Hello everyone! I’m glad to think that today is Monday and this means that the trading week has started!
I think that the USD today and tomorrow will grow, because the promises to tighten the Fed's policy are getting stronger. And today after the news about the number of jobs in the US came out, the dollar began to grow.
Technical analysis shows the possibility of filling the correction. Recently there was a breakthrough through the main line of Gunn, which indicates a change of trend.
Today EUR/USD did not meet my expectations. I thought that the EUR/USD would fall lower. Perhaps we should expect Yellen's performance this week. I think that I can expect an increase in volatility and a forward movement. USD will grow if Yellen indicates the next Fed rate increase.
I would not risk and rely only on EUR/USD, because I can be without profit, with a non-favorable result. Also, pay attention to JPY, which stopped the growth at the maximum price on May 10 this year.
What's next? EUR/USD. Inflation. Rate increase.
I showed the possible variants of the events below. If the third rate increase is confirmed, the dollar will be strengthened. Thus, EUR/USD go down, to 1:2 short-term and possibly fall to the November lows of 2016 for a long-term perspective. But we can not exclude the short-term growth of EUR/USD. It will fit into the market situation for an uptrend on H4.
Jordan Also one thing to keep in mind and Bear is ON LOngterm chart ( daily and above) Euro we need ( see Red line) as Must hold down any UP moves - otherwise iof takes out with force can go ballistic Northern hemisphere Rocket ..