its a safe bet. set a stoploss at .75348, the rally might finalize after it passes the red line
A nice multidiagonal short set up is forming on the lower timeframe charts of the USDX around the 12625 level. We can expect this to feed through into other multidiagonal longer term trades on metals such as gold, which could see a bounce on a USD fall at the confluence in this chart.
This set-up is a short 2618 trade but since the market was so kind to give us a triple top instead of only a double top, I call it 3618. Enter short from the 61.8% retracement at 1.02341 for a move back down to previous lows.
gartley: buy @16.740 cypher: buy @16.294
bat: sell @1.02276 which is right below major weekly resistance at 1.0244 gartley: sell @1.01497 or at market since we rose further than that already. Sorry I missed that one in advance but we have a better selling opportunity right now as the pattern is still valid because we did not violate X (1.0328).
sell @ 103.414 nice resistance (previous lows) around X if we look left on the 4H chart sorry the C point should of course be at 100.085 but it's just a visual detail :)
AUDUSD should trade higher in the coming days since it felt support at around the 0.7507 level. The entry came shortly after a disappointing US ISM Manufacturing PMI data release.
USDCAD should trade lower in the coming days since it felt resistance at around the 1.3140 level. The entry came shortly after a disappointing US ISM Manufacturing PMI data release.
Fed Dudley was speaking At A joint New York Fed, Indonesian Central Bank Seminar On Sunday evening when he left a mixed impression for the markets to digest - saying "it is premature to rule out an interest-rate increase this year" but then on the contrary saying "Raising Rates Prematurely Would Be Riskier Than Moving Slightly Too Late" and following up that...