- Tendency: Upward
- Above support
- Reversal candle W1
- Structure: uptrend
- Tendency: Downward
- Double bearish candle at Support Daily
- Break down and confirmation --> Move down
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The anticipated break higher has been seen, with the USD index reaching 103.65.
A corrective pullback is now highlighted, however, as overbought momentum studies unwind, with a break below the 101.80 retracement opening up congestion around 101.00 and the 100.70 retracement.
Still deeper reactions cannot be ruled out, but critical support within 99.43/75 should ...