Myst_FX

Myst_FX

After putting an evening star followed by a bullish engulfing candle pattern, chances of a downward move for the greenback are halved. Still in an ascending channel with a diverging RSI, bearish tendencies still remain. Neutral for now.. shifting to breakout entries recommended.

Myst_FX

Note the Evening Star candle formation (Boxed in White) suggesting a further move down. Ideal catalyst for this is a shocker NFP printout, breakout in the S&P 500 to the upside or the breakout in the Descending channel of GBP/USD.

Myst_FX

Seeing USD index push higher to 12050

Myst_FX

Completing a Bearish Bat (Red) Pattern at 1307s along trend-line resistance (Yellow) provides a pullback down bellow support level at 1197s. If the support holds, momentum will continue its bullish push past Key resistance trend-lines (yellow and red) to complete a Bearish Butterfly (Blue) pattern, thereby providing a pullback to retest former Resistance...