The monthly technical set-up could be showing us a bearish "trap" and then bounce to the upside. We come from a double top pattern that was perfect (congratulations to those who have been able to detect and trade it). It could be said that we are now facing a monthly triple bottom at the end of the month... Here we believe that the following scenarios can occur:
- The price will rebound and recover the level touched during the pandemic and then continue to rise
- The price will close below said mentioned level, but then will bounce to the upside for a long time (which would confirm the bearish "trap")
- The price will continue to drop to 1985 levels, which would confirm the Dollar as the queen of currencies...
What do you think will happen?
We will go to trade the indices that seem to have found support and are only accumulating to rebound higher...
- The price will rebound and recover the level touched during the pandemic and then continue to rise
- The price will close below said mentioned level, but then will bounce to the upside for a long time (which would confirm the bearish "trap")
- The price will continue to drop to 1985 levels, which would confirm the Dollar as the queen of currencies...
What do you think will happen?
We will go to trade the indices that seem to have found support and are only accumulating to rebound higher...