USD broad correction ahead (with 4H chart attached)
It looks like short term we had the bottom in. USD is reversing. Daily Slow Stoch turning up. 4H Ichimoku setup is almost ready for a counter long trade, but needs some more vaidation for those who are more conservative in position taking.
From 80,00 level we likely see a corrective USD move. If you like to play it, try to buy USD Indx on any pull back between 80,10 - 80,20, with stops at/below 7,95. First tgt for longs 80,50 area.
Pls note that to confirm the low local low was in, we need to see Chikou Span to cross above price candles on the 4H chart.
Will it be a great trend reversal? Not sure, since the 4H Cloud is thick, its top is far away, and forward cloud is still pointing down a bit.
From 80,00 level we likely see a corrective USD move. If you like to play it, try to buy USD Indx on any pull back between 80,10 - 80,20, with stops at/below 7,95. First tgt for longs 80,50 area.
Pls note that to confirm the low local low was in, we need to see Chikou Span to cross above price candles on the 4H chart.
Will it be a great trend reversal? Not sure, since the 4H Cloud is thick, its top is far away, and forward cloud is still pointing down a bit.