Dollar long crowded
Seems to me dollar is set for bigger correction as long trade got too crowded recently. Appropriate development is to be seen in gold btw, where shorts started to cover a little.
See several reasons for exhaustion of dollar run and completion of W3 started @72.69:
- 103.5 resistance
- 103.32 w5=w1 ext target
- longterm ascending channel median hit
- Wolffe pattern 1-3 line hit
Currently weekly top doji breakdown triggered sell signal.
There is lot of supports below, however, expecting retrace at least to inner epa 1-4 line (pink), more likely to 92 area where is .382 fib @91.93, max to W1 top 89.61.
Trade safe all.
See several reasons for exhaustion of dollar run and completion of W3 started @72.69:
- 103.5 resistance
- 103.32 w5=w1 ext target
- longterm ascending channel median hit
- Wolffe pattern 1-3 line hit
Currently weekly top doji breakdown triggered sell signal.
There is lot of supports below, however, expecting retrace at least to inner epa 1-4 line (pink), more likely to 92 area where is .382 fib @91.93, max to W1 top 89.61.
Trade safe all.
Trade closed: target reached
ap line hit :)
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