Since the start of the month this pair has been on a bullish run pushing upwards of circa 150 pips, now with the formation of consecutive doji's this is a clear signal of a reversal that's inbound; additional confluences to support: DXY short bias, MR, daily DT, candles.
Alternatively, if bulls maintain this run the next level to look out for = 110
Potential scenarios mapped; currently hovering around 1 level as a new trading month is about to commence- will it respect this level again? breakthrough?
Only time will tell.
Can expect alot of manipulation.
Monthly reversal, bias is a short for the pair with the start of new trading month.
+110 previous month, DXY double top
Oil can cause fluctuations, be wary of OPEC meetings this week.
Previous week analysis on the pair: currently in play
Short positions at the ready, bulls pushed up the pair +111 over previous week and now showing signs of exhaustion; creating a triple top around previous highs for November.
Enter on candlestick confirmation to minimise risk and gauge seller power OR alternatively could observe a further push up to the BIG 1.00000 mark.
Short dependent on close of next 4hr candle to gauge seller power.
Candlestick confirmation required, pullback from initial drop after creating November highs; expecting continuation to downside with resistance on odd psycho 1.33.
Target set if entered.