The chart says it all. Tired upmove. Price forming an ending diagonal on the way up.
Note
good fall today helping the idea. If everything closed near here we will have a solid and strong bearish candle which is also a breakout candleNote
price has done a breakdown and what I can call a retest of the breakdown. If this idea is to prove correct price must fall away from here impulsively. There is weakness today and the Fed is going to speak today. By the way Donald Trump wants an outright cut in rates and is threatening to demote the Fed chairman if he is not dovishNote
The fed chairman signalled that rate cuts are not out of the question. The $ weakens and stocks rally. By the way bonds rally too which is unusual. Idea is still in play.Note
the last 3 weekly candles can be described as a bearish candle, an inside candle and a bearish breakdown candle. So i am still bearish the $
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.