Technically the pair broken above a large expanding ending diagonal, at the same time breaks out of a triangle B wave of a minor degree, both are bullish signs.
Fundamentally, FOMC minutes showed most members sees a June rate hike is "appropriate" which is USD bullish, last Friday's Yellen speech is bullish also as she talked up the USD (she is usually a dove), also Japan PM Abe delayed sales tax hike which is JPY bearish (possibly a downgrade or negative outlook by rating agencies)
Now all we have to do is wait for a entry for your strategy.
Quiet Monday as both US and UK are in holiday, but tons of T1 data coming up for this week, i'm more inclined to a buy dip for this pair.
Fundamentally, FOMC minutes showed most members sees a June rate hike is "appropriate" which is USD bullish, last Friday's Yellen speech is bullish also as she talked up the USD (she is usually a dove), also Japan PM Abe delayed sales tax hike which is JPY bearish (possibly a downgrade or negative outlook by rating agencies)
Now all we have to do is wait for a entry for your strategy.
Quiet Monday as both US and UK are in holiday, but tons of T1 data coming up for this week, i'm more inclined to a buy dip for this pair.
