The USD closed the day back above the 89 level but is struggling to launch from there. It had already made a decent sized move though and is trading outside of the Bollinger band so a pause or small pull back is not unusual. However, any retreat from this region would have me suspect about the likelihood of bullish continuation and so it may be best to exercise some patience and see how this move unfolds from here.
USDX 4hr: struggling to escape the 89 S/R region:
The TC signals noted earlier were triggered by USD strength and, thus, I’m cautious with these at the moment. All three valid signals were triggered after huge moves and so it may be best to wait until next week, after the dust settles a bit, and to see whether the USD makes any bullish continuation.
I have noted new trend lines on the E/J and GBP/JPY as well. Both seem to be setting up now in new triangle patterns which implies they want a bit more time to sort themselves out and work out what they’re going to do next!
E/J:
GBP/JPY:
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