{quote} We arrived at targets faster than I anticipated. On USDX price didn't retest lower band of upward channel = logical pullback target (23 or 38 Fibo) {image} {image} On EURUSD price didn't retest 1.07, because this level was tested at the morning. Logical pullback target: megaphone top/median line/23-38 Fibo area {image} {image} Fundamental reason of today's rise of EUR: - recession fears (unemployment claims are going to 300k figure?) - BoC and SNB interest rate hikes Technically we got everything what we need to get pullback: - head & shoulders...
I believe that (unfortunately for my shorts) we will have continuation of EUR uptrend. Of course we could have some pullback (to ~1.0833 / 1.08), but the data doesn't support FED hikes scenario (I know this could be already priced-in).
At my broker I can see that 35% are long = retail traders believe that downtrend will resume, but it doesn't look like a bear flag and the price went to almost 50% fibo retracement.
On USDX dollar doesn't hold 23% fibo retracement + we are currently below support line + under 103 level
On H1 I see pullback potential (triple test of lower downward channel band), but we should go lower after all (102 -> 100??? - I try to not predict longer time frame)
On EURUSD we are still in less steeper uptrend channel
This mofo has been really annoying today
