Last week, we saw a lot a weakness in the dollar as a result of FOMC statements above upcoming, expected rate cuts which caused Gold to explode and the $ to crumble. The EUR/USD has broken out of the descending channel it has been in for the past few months.
After the breakout, it touched off of the 0.618 fib ret and couldn't break above this point with 2 daily...
Continuous bearish pressure on the Dollar has pushed it to monthly lows across most pairs because of the likeliness of a 'loosening of the monetary policy' in which interest rates will be brought down which has caused the dollar to fall. Along with this, tensions have arisen with the US and Iran over a US drone being shot down.
As we can, price has touched off an...
Looking for a rejection of the support level along with a retest of this level. After this, we will look to go long to the previous resistance level. Look to the 4H and 1H for entry (retest). If there is a breakout below the support level, the trade will become invalid. Hope this helps!
