Watch for DXY @ Pink trendline, if it breaks then it will be H&S breakdown
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PINK TRENDLINE HAS BEEN BROKEN, LET'S SEE WHAT HAPPENS NXT
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NICE FALL AFTER BREAKDOWN, WATCH CAREFULLY FOR ACTION AT THE LOWER DASHED BLACK TRENDLINE AND SOLID BLUE TRENDLINE.
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WATCH 4 ACTION AFTER RELEASE OF FOMC MINUTES ON WEDNESDAY 11/10
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I GUESS A BOUNCE
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COZ ECB STMT ON 12/10
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ERGO WED&THU ACTION BIT VOLATILE
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Dollar Index Shooting up on speculation that Taylor will be next Fed Chairman and Taylor is far more hawkish than Yellen
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THE LEVEL OF 94 ACTING AS STRONG RESISTANCE, WATCH FOR ACTION ON 26/10(ECB MEET) 27/10(US GDP)
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ALSO NEXT FED CHAIR ANNOUNCEMENT(WHEN?????????????????????)
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AS PER PREDICTION HUGE BULL ACTION ON 26/10
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LET'S SEE WHAT HAPPENS AFTER US GDP FIG ON 27/10
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TECHNICALLY SPEAKING NXT TGT=95.10/95.20;
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TGT1 ACHIEVED 27/10 1000hrs
Trade closed: target reached
Comment:
WELL THE SHARP FALL FROM 95.15 @ 1000hrs to 94.80; seems to be unwinding by bets on Taylor after indication that Admin is tilting towards Powell. However it would be pertinent to note that Powell may continue with the policy promulgated by Yellen and i don't think that Dxy is going to fall too much maybe 94.00/94.15. Let's see what happens nxt.
Comment:
AT KEY LEVEL OF 94.80
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severe fall from 94.80 to 94.41, then rangebound. Seems rangebound 94.80/94.40.