Fundamental data came marginally disappointing today so a decisive USD move didn't materialized even though it remained generally depressed throughout the day.
Preferred instruments and personal sentiment:
EUR/USD - bearish
USD/NOK - bullish
USD/MXN - bullish
USD/ZAR - bullish
The EUR/USD breakout on the rising wedge identified yesterday didn't become a downward trend yet. However, the pair seam to be forming a head and shoulder pattern or ascending triangle now. My bet is on the head and shoulder bearish breakout as EUR/USD currently seam overbought.
Happy week-end!
Preferred instruments and personal sentiment:
EUR/USD - bearish
USD/NOK - bullish
USD/MXN - bullish
USD/ZAR - bullish
The EUR/USD breakout on the rising wedge identified yesterday didn't become a downward trend yet. However, the pair seam to be forming a head and shoulder pattern or ascending triangle now. My bet is on the head and shoulder bearish breakout as EUR/USD currently seam overbought.
Happy week-end!