Strong US NFP print has pushed price back to the lower
band of the cloud, but it failed to close below it. Retail
sentiment has turned neutral, from net short, which doesn't
give a clear bias at current levels. Looking at FXCM dollarindex,
it stands at a channel top showing some weakness. It also
stands at 2009 high.
The fact that price failed to take out
the 50% fib of recent move up, may suggest further upside,
The projected kumocloud (the future) is bullish, thus giving
a close below the cloud a corrective (false break) signal.
R/R for long from here is great, with possibility of a tight
stop.
band of the cloud, but it failed to close below it. Retail
sentiment has turned neutral, from net short, which doesn't
give a clear bias at current levels. Looking at FXCM dollarindex,
it stands at a channel top showing some weakness. It also
stands at 2009 high.
The fact that price failed to take out
the 50% fib of recent move up, may suggest further upside,
The projected kumocloud (the future) is bullish, thus giving
a close below the cloud a corrective (false break) signal.
R/R for long from here is great, with possibility of a tight
stop.