This formation further confirms my previous shorting strategy of this pair. If you missed the first entry, this could be a good opportunity to jump in at the pull back to retest. USD demand are still going haywire, at least throughout the rest of the trading week. Trump's comment has little effect on investors' expectation on the future rate hikes, which dues next month.
Note
Price is struggling at the upper resistance level 1.15750. Retreating to the lower level, if broken, price will come south.Trade closed: stop reached
Dollar nosedived after Powell’s speech.
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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.