I took this trade yesterday. Based on the soft edge the Dollar has been showing end of 2018 and into 19 |I'm holding this one until it hits the 107.0 level.
The market is likely to retrace then a little so aiming to close in the blue!
Lets see how it plays out... have a great weekend
I drew my chart on the greenback last week some time and thought I would share as it has significant impact on major pairs as well as the price of GOLD.
For the time being we are seeing bears gaining momentum.
Keep a close eye on the $
Draw up your analysis on the Dollar, Sterling and Euro, and Gold.
Are there emerging patterns? Lets look again on Sunday at...
Look at the levels of continuation and factor inn if still looking good for the sell off as GBP is very weak against other major currencies this week.
EYES peeled for political outcome of BREXIT 'Deal or No Deal'??
A potential downside movement for a second day, its been ranging for a while, but fundamentals point to a considerable short trade.
Choose your target. Conservative (Careful) traders close at around 1.68 if continuation pattern emerges take it to 1.66490
Always be prepared for different outcomes, but in the same breath, STAY IN THE TRADE!
Look at data...
A simple potential short to 134.00 is easily achievable.
Fundamental analysis points to a weak £ due to a obvious 'No DEAL' Brexit for May
Technical analysis the chart will make a small continuation upside, followed by a considerable downside move, but remaining a conservative trader, my target is at around 134.00