ON Monday, we had talked about the nice rounding bottom formation in the pair, which suggested demand is likely even if Trump wins.
As expected the spot has recovered from the low of 101.19 to 104.53, tracking the sharp recovery in the treasury yields.
The daily candle now looks bullish given the huge lower shadow (which suggests dip buying)
Overall, this move reinforces our view of the pair testing 107.50 by December end.
As expected the spot has recovered from the low of 101.19 to 104.53, tracking the sharp recovery in the treasury yields.
The daily candle now looks bullish given the huge lower shadow (which suggests dip buying)
Overall, this move reinforces our view of the pair testing 107.50 by December end.
