Finally some USD Shorts to look forward to
Weekly candlestick forms a nice hanging man. What makes this an interesting candlestick pattern is the way it gapped up before closing lower.
Secondly, the price level of 94.76 is an unfilled down gap from 22/09/2003.
The US Dollar has enjoyed a rally for quite some months, to the point that USD long position has become a boring proposition. So we're looking for a change of trend.
Best course of action is to wait for this week's candlestick to close bearish for confirmation or look for daily charts bearish candlestick pattern for an earlier confirmation.
Secondly, the price level of 94.76 is an unfilled down gap from 22/09/2003.
The US Dollar has enjoyed a rally for quite some months, to the point that USD long position has become a boring proposition. So we're looking for a change of trend.
Best course of action is to wait for this week's candlestick to close bearish for confirmation or look for daily charts bearish candlestick pattern for an earlier confirmation.
