Looks like EU found the roof in the top of channel. And even negative NFP for USA today, market does not try to higher. Looks like consolidation?
... as investor loose optimism about the economy and second wave of corona in EU
Clear divergence on RSI signs bullish potencial for DXY , EU is in 1.16 and makes double top with expectation to drop . Not so much space for EU to grow, maximum 1.172. But optimism is loosing. Fundamental view is positive for USD today, but tomorrows EU PMI data could change any movement.
Clear divergence on RSI signs bullish potencial for DXY, EU is in 1.16 and makes double top with expectation to drop. Not so much space for EU to grow, maximum 1.172. But optimism is loosing. Fundamental view is positive for USD today, but tomorrows EU PMI data could change any movement.
EU return to the channel with expectation of touch the support with break down probably, all depend on the US stimuls.
Possible bounce or drop, depend US data today
Dollar is weak, but EU missing fundaments to break this top, going to side
Wait for close above the Fibo and trend line
Depend on economic news today could be H&S patter completed
Economic calendar is empty on Monday so no power for bulls