The price runs inside the contraction triangle,
The weekly chart continues with three large red-candles,
This week is likely to fall further.
In the future you can keep trading inside the triangle,
as shown in the chart.
Sell Now & TP 108.50
-----------------------------------------DRonnie - 2019.05.13 uk
Currently got 3 scenarios for dollar index.
It seems to be trapped in a range collecting players on both sides of the markets.
It could go either way at the moment like I said back last year - if we are under 91.24 I thought we were bearish I still think the dollar will go bearish but at the moment the market is trapped.
It currently just swept a high if it...
*So with dollar it looks like it is basically between a range now, it tapped a bullish order block (on the monthly) so now turned breaker to bearish and closed below it - it's at 50% of a monthly level to it's actually at two monthly levels - I think bearish dollar next week.
*I am seeing a range of 94.70 - 90.95 - both monthly levels.
*For deep trends when it...
In the boring late August and early September, USD was struggling inside the triangle pattern without a clear trend, but it has had an upside breakout today. In next week following FOMC statement and in the near future, USD is highly possible to keep going up and bring more good trading opportunities.