I would still expect the pair to increase slightly before reversing. The high volatility news prints out of the US this week could prove to be the catalysts for it.
Potential key fundamental drivers for a reversal this week:
Tuesday - USD ISM Manufacturing (March)
Thursdasy - USD ISM Non-Manufacruting Composite (March)
Friday - USD Non-Farm Payrolls (March)
If i do enter the trade, I will be looking at the 0.236 fib level as my first target with $1.600 and $1.558 in extension
-Darren
Potential key fundamental drivers for a reversal this week:
Tuesday - USD ISM Manufacturing (March)
Thursdasy - USD ISM Non-Manufacruting Composite (March)
Friday - USD Non-Farm Payrolls (March)
If i do enter the trade, I will be looking at the 0.236 fib level as my first target with $1.600 and $1.558 in extension
-Darren