Im still short biased as the recent bear candles are strong which is inline with the preceding selloff. Bulls have a lot of strong levels to break through. Bears have it a lot easier.
This could be accumulation though. Have to wait and see, Ill be cautious with longs.
1. Quiet week ahead
I will wait for price to break this range before taking a position. There have been 3 attempts at resistance which leads me to think that players need liquidity and will go hunting within this range
1. I think if we continue to see dollar strength then the emerging markets will continue to weaken.
2. This is also a big round number level. Traders will be reacting here.
Hopefully a pinbar will give us an opportunity on this one.
Although price has reversed here a few times before, I would be watching for a push below this level as the big players look for liquidity. If price breaks 45 Ill look for opportunities to the 50 level.
A break below and the obvious target is 40.
Ill be watching this one closely.
Strong 4HR level coming up. FOMC decision this evening. I doubt any major reversal will occur between now and election unless there is major good news for the US.
So I expect this Dollar weakness/uncertainty to continue until next week.
1. Price trending up
2. If price breaks above 1.4535 signals a continuation
3. This pullback to the 4 hour looks like a good place to buy but Im not sure. Will rather wait for the break above my level to confirm trend continuation.