This is more of a thought, than a trading idea...
There is a rising wedge, of which is about to complete, on $DXY.
This is a bearish pattern, and if I'm correct, its full formation may coincide with the latest USD data that is due to be released on Thursday.
There is a rising wedge, of which is about to complete, on $DXY.
This is a bearish pattern, and if I'm correct, its full formation may coincide with the latest USD data that is due to be released on Thursday.
Comment:
This wasn't the best example or a rising wedge, it's more like a rising triangle (yes, I see price on 05/01/16 broke 99.27). However, what this chart does tell us is that something huge is about to happen. USD will either smash its way up, or resume its downtrend.
