When we look at the chart we can see that it is touching the wedge. It will be interesting to see if this wedge holds but I think that it will not hold. I personally think that the wedge will first do a fake-out, than there will happen retest of the wedge. When it than does the breakout of the chart we will see that it will dropen even more. We do have to also keep an eye out for the DXY because there is a correlation between those 2.
We do have to wait until the market opens to see what will happen but I think that a drop is possible.
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Important: This is just an idea that I have. I am not telling you to buy/sell anything. What you do with the information that I give you is totally up to you.
We do have to wait until the market opens to see what will happen but I think that a drop is possible.
If you like what the idea please leave a like and a comment.
Important: This is just an idea that I have. I am not telling you to buy/sell anything. What you do with the information that I give you is totally up to you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.