It has been a very ‘noisy’ week in term of USD related news. Let’s just ignore that and stick to the charts. Nothing has been resolved yet and as you can see from the 4H chart of the USD Index below we have multiple competing bull/bear patterns and the ‘lines in the sand’ are evident. Let’s be patient and follow price action to guide us for the next directional move. This type of price action behaviour is not uncommon for this time of the year. A reminder that this week we have the ECB & Draghi speech, EU PMI’s and US GDP data, ohh and there is always the Trump tweet factor.
