After a very bearish move previous month the dollar recovered by 80% and founding resistance back at the previous trendline ,potentially bounce back off to around 107.850 wich has been a strong support level.
RSI shows a divergence that could turn this pair back bearish again the long term trend is also bearish.
Other then that there are 2 main economic events (The Durable Goods Orders,The Durable Goods Orders ex transportation) both are very important they are confilicting each other
first one forecasts bullish dollar while the second forcasts bearishness.
Stops are placed above trend resistance if it breaks through I am going to exit
RSI shows a divergence that could turn this pair back bearish again the long term trend is also bearish.
Other then that there are 2 main economic events (The Durable Goods Orders,The Durable Goods Orders ex transportation) both are very important they are confilicting each other
first one forecasts bullish dollar while the second forcasts bearishness.
Stops are placed above trend resistance if it breaks through I am going to exit