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@fx823
Not really sure about whether it is a classic pattern. But as far as i concern. The target of the +ve divergence already reach. The target of +ve divergence should be the LH. I was out of town, I dont have enough tools to show you where is the target right now.
1.3520 as the LL, 1.3650 as LH. Then 1.3300 as LL. But MACD show +ve divergence. So according the target of divergence. 1.3650 should be used as target of the +ve divergence
@danecek
Look on your chart again. EU H1 showing a inverse H&S formation. Check whether the neckline is broken? Then use the height of Head as your target if the neckline broken
Same on your UJ chart.
@other
On daily TF. Check aussie cross pair. many pair have did the breakout and currently trying to retest the TL. Juz check will the TL hold and you can start your trade.
Hi mphpopular,
it looks like an double bottom up could be forming on the EU 1 & 4 h.
About the dollar index, here's an quote from my broker(stocks) newsletter: "Not long after Lehman failed last September, we argued that the dollar was proving to be a “parking lot” for investors as they put their cash in US T-bills and waited for the surge in risk aversion to blow over.
There’s no maximum capacity but, the more this parking lot fills up, the more the dollar could fall when it eventually empties out. One reason for this view is that longer-term capital flows into the US have been poor since before Lehman’s bankruptcy."
So there is also fundamentals that dollar could weaken a lot in 2009
Linear Mode
