DailyFX.com - Highlight Points: - Even more Fed-speak indicating hawkishness has continued the drive higher in the Dow Jones FXCM Dollar Index, and this has brought to question two previously strong trends in EUR/USD, but this strength hasn’t necessarily been even-handed: While EUR/USD appears to be on the cusp of establishing a new down-trend as major,...
Formation - Expanding falling channel Outlook - Cautiously bullish Sterling's sharp fall left it oversold as per 15-min RSI, with the indicator forming bullish divergence pattern with price chart in the NY session. The subsequent attempts to recover losses have failed around 1.4220, still the intraday support of 1.4190 (daily low) is being defended. Thus odds...
The impulsive decline seen in early Europe has been recovered, thus marking another failure to sustain below 125.00, thus extending the ongoing squeeze between 125.0 handle and falling channel resistance. A daily close back inside the channel would invalidate arguments to remain on the sell side, thus leading to short unwind resulting in the cross cutting through...