The USD sell off as traders set a chain of profit taking after 2 weeks rally due to various factors:
- Greece uncertainty of exiting the EZ make holding USD worthwhile
- US Economic data has been promising with CPI much higher
- Hawkish comment from Yellen
- That view is changing with 5th of June looming for a potential deal and no Grexit
A lower USD...
Expect some consolidation
Forming a potential H & S?
Will wait for confirmation
Daily RSI has rooms to fall
Data Dependant on ADP & Non Farm Payroll
Previous yellow box was a bullish wedge
Forecast next yellow box is a bearish wedge?