pink zones r resistance
green zones r support
market>> 21/55 and MACD
price>> 5/8 and stochastics
market is bearish,21/55 is widely seperated but price is currently oversold.Being a bull on the USD am waiting for the retracement to the 21 and the 55 but if it bereaks through those two moving averages i strongly believe MPP would stand and if it doesn’t still might drop at MM3 and MR1(sellzone for bulls(usd-bias)).
market is bearish as 21 and 55 are widely seperated but price is bullish aproaching the 21 where it might drop or breaks through till 55 where it might as well drop possing a double bottom,USD bulls would enter the trade if it drops off the 21,55 or WPP for a weekly trade and hold the trade till the end of the week as monthly low hasn’t been reached when it fell of WPP zone.
confirmation of where price is now though patience was exercised and kind of sweated and i missed the entry>>>>i posted this a while ago with my bias on the cable based on technicals waiting for fundumentals to verify indeed they did.