Daily chart: Bears managed to get into the bottom envelope and now everything is ready for a further decline of price to 1.5065 (the bottom Bollinger band). We will try to assess their potential using younger charts.
Í4: A serious support is based on 1.53 (the bottom Bollinger band). A slight convergence of oscillator is present, but it also puts a breakthrough into a question.
Í1: we also see a bullish convergence here. So, when Lows are updated (or perhaps, without this update), we will wait when upward movement will start to 1.5472
Expectations: decline to 1.53 and growth to 1.5472
January 23, 2017 The Week ahead: Politics to take center stage
Donald Trump is finally in power, a new era has arrived, and his policy plans in the first couple of weeks will override fundamentals. Markets spent more than two months pricing in growth policies promises, lowers corporate taxes, and deregulations, now it is time to deliver as markets will no more move on words but actions...
January 23, 2017 Dollar opens weak as markets cautious on the new Trump administration
The U.S. dollar continued to extend the declines for what could a third consecutive day. On Friday, Donald Trump took office as the 45th President of the United States...
January 20, 2017 The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...
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