Intrarea postată de sarrafx
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The up move is overdone and ditto in most of the spaces thus one can expect corrective move.
More or less the pair achieved the closer to the max range of 1.6100-1.6130.
Further gains would be tough to negotiate and thus would prefer a dollar rally.
This is despite the fact that the dollar has broken the trend line in weekly and thus posted one of the bear pictures in the recent months.
However most of the pairs are in critical junctures like Euro near the monthly trend line, Sterling near the channel high drawn and also near the weekly trend line.
This ideally suggest corrective rally for the dollar before next move.
Thus a) the influence of Sterling and Sterling alone b) influence of EURGBP c) the broad dollar action in that order is what is one should look into.
The fulcrum has substantially moved from 1.5880 to 1.5960 and the upside focus is towards the 1.6100-50 area. Only break and close below 1.5960 can potentially threaten the up move.
Intra-day shorts recommended as the RR favours within the ongoing dollar bearish bias.
Strategy : Sell here and 40 Stop Loss:- 1.6208 Take Profit:- 1.5980
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