USD short on the way
As mentioned on Monday, the USD short was looming over many pairs and the USDSGD (see linked idea) and the USDNOK, as indicated, have played out as very good movers.
The EURUSD breakout is also shaping up as we speak and a break of 1.15 seems likely at the end of the day.
Will this set the theme for the next weeks and will the USD weakness persist? The USDX is trading below 95.5 which also confirms a bearish breakout pattern.
The questions traders have to answer now are: will we see a clean breakout? Do we get a retest? or is this just a setup for a squeeze? We shall see
The EURUSD breakout is also shaping up as we speak and a break of 1.15 seems likely at the end of the day.
Will this set the theme for the next weeks and will the USD weakness persist? The USDX is trading below 95.5 which also confirms a bearish breakout pattern.
The questions traders have to answer now are: will we see a clean breakout? Do we get a retest? or is this just a setup for a squeeze? We shall see
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
Related publications
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.