A lower low was formed over the last week. There has now been a clear retrace forming a lower high. I would have like price to correct a little bit more. The retrace is at the 50 Fib level. On the expectation of positive dollar news from NFP later on today. I will be looking at taking short positions. We will see what the markets do (we also need to consider that...
Divergence has occured on the AO. Simple trend change, higher high, waiting for a retrace to create a higher low and then I will enter long if/when the higher low is confirmed.
The pair has been bullish for the past two weeks. Given no real high impact economic news scheduled this coming week. Price has encountered some resistance at the 114.573 level. On the technicals there is divergence to bearish momentum on the AO. I am patiently anticipating a retrace to a lower high to confirm a break in structure and the new trend and then take...
