A quick correction before USD news events
Bullish black swan and bullish shark are converging, likelihood of 5-0 pattern to form later on today right before the USD news events. Normally after bullish shark pattern forms there's a possibility that the 5-0 pattern will come afterwards.
The odds for upcoming 5-0 pattern are complimented by the fact that this week the US dollar has been weak against every major currency. The speculators will still be looking to trade against it. The smart money are also looking for support areas to go bearish. Once the Asian session opens, I am expecting them to take their profit up to the pivot point.
Backed up with double bottom on the RSI and the anticipated MACD divergence, the Asian session will have a bullish sentiment.
Good luck and Happy trading :)
The odds for upcoming 5-0 pattern are complimented by the fact that this week the US dollar has been weak against every major currency. The speculators will still be looking to trade against it. The smart money are also looking for support areas to go bearish. Once the Asian session opens, I am expecting them to take their profit up to the pivot point.
Backed up with double bottom on the RSI and the anticipated MACD divergence, the Asian session will have a bullish sentiment.
Good luck and Happy trading :)
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