Ideal trade here is sells to daily support off 1.27! ENough confluences there especially with the 800ema but not sure if the trend has had enough of a correction at this stage
Had a perfect retest of the broken TL last week and bounce off the daily res. Head and shoulders looks to be playing out so will get in on the retest of the neckline if it breaks. Watching the area market at 1.23500 for rejections
Can see us bouncing around in this area for a while to be honest with the dxy providing no real direction.
Break to the upside does give clear direction though!
Should see a few days of dollar bearishness before reacting strongly off the major support around 100 leading into FOMC this week now we've broken below this level.
If this turns out to be a fakout today, I like the Head and Shoulders formation off 103.75
Very rare you see such a steep drop on the 200ema without a pullback.
Either way there’s no sell from here and deffo not buying the bottom. Wait for the retrace