Daily Update - 4 hourly Head & Shoulder pattern is playing out - Head at 97.50 and neckline was at 94.84, giving a distance of 2.66 - Target for the H&S is at 92.18 which hits the 38.2% Fib retracement from the 2014 rally - Current PA we have minor support on the trendline then with key support at 93.13 - Break below 93.13 opens up more selling where price will look for support from 200 DMA that is rising (92.08) - MACD is still crossing lower and the RSI has rooms as it is not oversold yet - PA is trading well below the 20 DMA which suggest sellers are in control - Rallies are to be sold - 50 MA cross below 100 MA = death cross
FA - Dovish statement from the last FOMC meeting - Data dependant and revision of a weaker US economy