Several factors have cautioned me to some USD Strength, at least in the short term.
Price has stabilised from 99.4, established a Bull channel, which has taken price through what was a Bearish channel (Where price previously reacted with sharp rejections)
the mere fact that there is still price action in this channel maintaining the bull channel atleast gives me an idea that Price will want to TEST 100.75. Failure to break it will result in establishing a possible range between 100.75 and 99.50 until further action.
Also, have a look at RSI, it broke above 50, and atleast can retest it again, should price need to find its feet again to the upside.
I'm just saying, keep an eye out of you already had shorts on longer term trades of USD base pairs.
Price has stabilised from 99.4, established a Bull channel, which has taken price through what was a Bearish channel (Where price previously reacted with sharp rejections)
the mere fact that there is still price action in this channel maintaining the bull channel atleast gives me an idea that Price will want to TEST 100.75. Failure to break it will result in establishing a possible range between 100.75 and 99.50 until further action.
Also, have a look at RSI, it broke above 50, and atleast can retest it again, should price need to find its feet again to the upside.
I'm just saying, keep an eye out of you already had shorts on longer term trades of USD base pairs.
