what is the new count now on the chart?
Dislikedxau.usd should climb from here with these news
U.S. housing starts fall 8.5% in January
Led lower by apartments, construction on new U.S. homes fell 8.5% in January to a...Ignored
Dislikednot following but its like 6th time it comes to this area on the weekly , first five times it saw rebound.Ignored
Dislikedi know it was a good ride down from 1.63 to current.....
and next support is 1.47....600 pips movement if continued drop....Ignored
DislikedI'm completely confused with what has been is happening in the markets for the last few weeks. ONly sensible instrument is USDJPY, i just observe it but its ascend makes sense, everything else from equities to gold I don't get right ow.
EDIT :JPY pairs make sense not just USDJPYIgnored
DislikedWould agree with fundamental analysis based on currency wars and chart says potential breakout.
However, as a trader although we are entering some decent demand zones, I would say prudent case is to let it come to you and wait for bottoming/reversal although I might take a quick trade with tight sl on demand levels.
On weekly, looks to be targeting 1537 perhaps. Older chart that I used to play bounce, but outlook is same.
Happy Birthday G!Ignored