Failure at the top implies a running flat formation
Last Friday's failed attempt in the Dollar index at 96.10 resistance raise the probability of a running flat formation. With one more down move to test the prior low at 95 would complete this corrective structure.
Hence my plan for the next week is to look for short buy setups aiming for 95. From that level, I am going to monitor for seller failure to get in a long position.
If the Dollar would build a flag formation or zigzag lower, then I would think about taking long after the break of that corrective structure.
Hence my plan for the next week is to look for short buy setups aiming for 95. From that level, I am going to monitor for seller failure to get in a long position.
If the Dollar would build a flag formation or zigzag lower, then I would think about taking long after the break of that corrective structure.