Recently, I checked out the DXY and have published my analysis on my page; you might want to check that out first before reading this one. So, today, May will give her speech on the plan to exit the European union and their relationship after the divorce which this could give rise to market turmoil if the plan seems to have significant impact to the market, but, personally, I don't think it will be that bad. In fact, EURUSD's rally since the opening session kind of makes me think that EURUSD will continue to go up, but looking from a bigger picture this rally could soon come to an end. In a day time frame, there's a continuous divergence in Fisher transform and the price is losing its upward momentum to the selling pressure as investors risk-off from this asset.
In a week time frame, the daily view is even more emphasized by the week time frame as there is both a divergence and a clean crossed down of Fisher transform which suggest a possible downward rally soon. The picture is also supported by a macro-view which makes me believe that shorting EURUSD is a safe play for now.
A link to my DXY's analysis
In a week time frame, the daily view is even more emphasized by the week time frame as there is both a divergence and a clean crossed down of Fisher transform which suggest a possible downward rally soon. The picture is also supported by a macro-view which makes me believe that shorting EURUSD is a safe play for now.
A link to my DXY's analysis
Trade closed manually:
Same idea as Gold, US data are coming out and could be weaker than expected driving EUR/USD up which is something that we would not want to see at the moment. Short when it rally up could be something that I would do, but let us wait.