Sellers bullish run started 1/8 caused the pair to drop in excess of 400+ pips, now with the reversal to the upside in full effect. Forecast below shows expectation for a pullback down to 106 psycho before continuation back up; potential target 107. DXY seems to have also gained traction as forecasted earlier this week in response to positive CPI data coupled with...
4hr engulfing candle and currently testing FIB + DXY seems to be clearing to the upside after consolidation and break of 97.8. Will need to see Oil weaken for big moves after retest off 4hr TL.
I am going long on Eur/Usd. I think eur/usd will break down to around 1.11684 then price will go up to around for 1.12800 area. With dxy dropping at a fast pace on Friday a pullback might come when the markets open which supports the idea of Eurusd going down a little before it goes up.