I suspect we'll see a continuation of the Risk Off sentiment that infected the markets at the end of last week. If so then we'll probably see a strengthening of the Dollar before pushing short as we hear more about the US stimulus package. That means in this chart short then long as indicated by the green arrows. I see the draw down as a long trade set up.
On the higher time frame I think the down side for the Dollar is limited but none the less I don't think we've see the bottom yet. The bottom may come once the EU releases it's stimulus plans
I'll update this idea as it develops.
On the higher time frame I think the down side for the Dollar is limited but none the less I don't think we've see the bottom yet. The bottom may come once the EU releases it's stimulus plans
I'll update this idea as it develops.
Note
So far so good. Let's see where it gets to before deciding whether to trade it long or not. Note
I'll continue to update this idea until it reaches a double top or until it's wrong Note
Potential long trade setting up 
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Twitter: twitter.com/logicfxtrading
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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.