Looking back over this pair, it's been ranging for a long time.
The candlestick patterns are clearly showing rejection, we now have a doji to back up the change of direction potential.
Fundamentally it seems hat it doesn't matter how good the US news is, the dollar's fate is sealed.
Interesting to see how NFP goes on Friday (but still can't see it getting much past 105.5 even with positive news). I'll probably wait on this pair until after the event has calmed down before getting involved.
Overall I'm bearish on this, waiting for a good entry for at least a 4:1 score initially, but think it'll go further.
The candlestick patterns are clearly showing rejection, we now have a doji to back up the change of direction potential.
Fundamentally it seems hat it doesn't matter how good the US news is, the dollar's fate is sealed.
Interesting to see how NFP goes on Friday (but still can't see it getting much past 105.5 even with positive news). I'll probably wait on this pair until after the event has calmed down before getting involved.
Overall I'm bearish on this, waiting for a good entry for at least a 4:1 score initially, but think it'll go further.