The counter had broken its immediate trendline.
It then followed it up with a short rally and is now consolidating in a flag pattern.
Also, the dollar is set to lose some of its gains post FOMC news release, as the odds of rate cut are increasing.
Hence, we expect the pair to make a bullish rally, if at all a short-term correction.
It then followed it up with a short rally and is now consolidating in a flag pattern.
Also, the dollar is set to lose some of its gains post FOMC news release, as the odds of rate cut are increasing.
Hence, we expect the pair to make a bullish rally, if at all a short-term correction.
Trade closed: target reached
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.
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.