So this trade has a conflict when looking at it for a long or short Bias for the week - It has broken out of a Bull flag on the weekly last week but is Strongly approaching a Sig Level on the Monthly Timeframe
Both economies have been relatively weak in terms of currency strength due to safe haven and commodity prices failing.
On the smaller timeframes this sits at the top of a trend channel so short term could be a short until or if it breaks out that channel.
I will be watching as to how it behaves at the monthly resistance level before deciding a Buy or Sell opportunity
Both economies have been relatively weak in terms of currency strength due to safe haven and commodity prices failing.
On the smaller timeframes this sits at the top of a trend channel so short term could be a short until or if it breaks out that channel.
I will be watching as to how it behaves at the monthly resistance level before deciding a Buy or Sell opportunity