As seen on the chart, a recent head and shoulders formation on the 15m chart shows a push downwards off the neckline yet failed to break and create a meaningful low. after retesting the low created we are seeing bullish pressure despite the recent bearish impulse. I advise to wait for the price to close above the 21 ema and neck line of the previous H&S.
After DXY losing its support trendline it is safe to assume we will see an EU rally for the forseeable future, as the chart above shows we have a retest of a level that have been touched multiple times as support. The support trendline has held up thus far. We shall see a slight movement downwards to touch this trend line once again (During London Open) after...
GU hitting a very familiar and well tested resistance today in the early morning 5:00GMT, i imagine by london open we will see the beginning of a movement to the downside as we see a sell off to break the rising wedge. One hour chart also sees a double top movement addition to hitting the 200ema (4HR Time Frame) signalling further reason to short.
