As you can see price is consolidating for the past couple of weeks on weekly resistance. Also price is respecting weekly ascending trendline perfectly.
Due to bearish divergence on DXY daily chart, it's expected that price has another bullish leg to form the right shoulder of Head and Should pattern.
However, we have "Non-Farm Employment Change" tomorrow (Aug. 3) which would tell us the right direction.
Due to bearish divergence on DXY daily chart, it's expected that price has another bullish leg to form the right shoulder of Head and Should pattern.
However, we have "Non-Farm Employment Change" tomorrow (Aug. 3) which would tell us the right direction.