With price breaking below a major support level and now coming back for the retest, Stochastics showing some nice divergence on the 2hr and also some nice price action in the form of some pin bars reacting of the major support level. I would like to see this now push further down.
Price has broken out of the falling wedge pattern, looking for a retest of the previous trend line for momentum to continue to push this pair higher. Horizontal lines are taken off the weekly timeframe.
Bouncing off a very strong support level/Demand level, Stochastics is turning bullish and suggesting a reversal.
However, we are in uncertain times with the outcome of the US election to still be determined thus anything can happen.
As the UK goes back into lockdown, it's only natural large companies and corporations alongside the general public will start making use of zoom to stay in touch. Zoom is estimated to report earnings on 12/03/2020. Looking very bullish.
Natural Gas could continue in this bullish channel however, I would like to see it pull back into this support level before going long again. You need to remember Natural Gas is a seasonal commodity and generally around winter time is when it will be utilized to combine that with another potential lockdown here in the UK could see people stuck indoors for longer...
DXY has been making a series of LH's & LL's, Price is currently testing previous support which is now resistance, 1HR candle has now printed a shooting star which is a reversal pattern.
3 confluences to suggest price will go lower.