With stock markets having thrown caution to the wind ... The Yen weakening (not unconnected) (The AUDJPY rocking up) But the dollar weak (see what happens this afternoon.)
IF, IF, IF (if the pair goes that high it does beg a question over the stock surge as that will likely fuel towards new highs, the RSI suggests not yet) it maintains the sharp up channel and reaches 103.7 almost certain to be a sharp drop off. I kind of want it to go up there for a sense of completion.
Currently some hefty short term resistance around the sharp down line A
Approaching is a juncture of support/resistance that will probably initiate a move solidly up or down, a sort of over or under, that's what I'm thinking. We'll know by tomorrow morning. A bit puzzled this AM as the DXY has dropped to semi-crucial support (and looks like maybe to break it, dropping below 80.5), the lower 0.382 of the pitchfork is weak... Hmm.
(I hope these drawings are useful some time beyond then. Please do understand these analysis charts are meant as templates, adjustable etc. Lines will come in & out of effect).
PS. As before 02-06 Feb it's a second mini H&S so yes, a price move up or down.
IF, IF, IF (if the pair goes that high it does beg a question over the stock surge as that will likely fuel towards new highs, the RSI suggests not yet) it maintains the sharp up channel and reaches 103.7 almost certain to be a sharp drop off. I kind of want it to go up there for a sense of completion.
Currently some hefty short term resistance around the sharp down line A
Approaching is a juncture of support/resistance that will probably initiate a move solidly up or down, a sort of over or under, that's what I'm thinking. We'll know by tomorrow morning. A bit puzzled this AM as the DXY has dropped to semi-crucial support (and looks like maybe to break it, dropping below 80.5), the lower 0.382 of the pitchfork is weak... Hmm.
(I hope these drawings are useful some time beyond then. Please do understand these analysis charts are meant as templates, adjustable etc. Lines will come in & out of effect).
PS. As before 02-06 Feb it's a second mini H&S so yes, a price move up or down.