USD strength
Updated
As I told you on the previous week I still see the strength of the US dollar. Daily timeframe on USDCHF. Only two main psychological levels for me - 0.9100 and 0.9300. We can clearly see we already formed 5 Elliot waves. Once the 5th wave was hit our support level - the price starts to reject. Why? Is it only because of the support level? Yes, but also we got a finished structure. Look at the daily timeframe and have a look HOW we start to form our move to the downside getting this H&S pattern. We move not aggressively but correctively. This is what the nature of the market should tell us! Try to not look for only repetitive patterns and candles - try to READ THE CHARTS, and later on trading will become the second nature.
Comment
There is almost 5 days when the price completely start to form new impulse to the upside - lower timeframes looks good. Let's see what we can get next??Comment
Update - Very nice a trend change. Huge momentum to the upside and our first target is already hit at 0.9263Disclaimer
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