OPTION 1: DOLLAR STRENGTH
A) It will break the short term Trend Line (white) to the downside and retest support (blue bottom) it is already showing signs of retesting that bottom line.
B. This is in the zone of a 68.1 Fib retracement level (BUY) for a continued uptrend
OPTION 2: Dollar Strength
A) It might bounce back into the short term trend line...
Although there is a lot of uncertainty in market news in the upcoming week one play I’ll be short on is the euro. (Hope is never a strategy) but I’d hope to see the heavily inflated dollar make a decent bounce to send this lower. I’ll be looking for a liberal profit on the downside around the two TP zones..
Area of confluence identified - if the uptrend continues looking to retest supply zone. target 1 continuation is the 1.1600 area if breaches long term supply zone for potential long term trend reversal
