Morning everybody,
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So it seems that DXY grabber has appeared right in time. Fed minutes were not as hawkish as many members stand in favor of slowdown of the policy or even to make a temporal stop to see what will happen. But this was last month and we will see what will happen in December...
Meantime, EUR is going with our recent analysis, aiming on previous top. Andreas has specified 1.0530 as nearest target, our intraday chart shows 1.05, but in general we need 1.0578 by the end of November to get superb monthly B&B "Sell". Let's keep watching:
On 4H chart EUR has done all confirmations of bullish reversal - trendline has been broken up, right arm of H&S has erased and price even has climbed above "C" point, which means that AB-CD pattern is also erased and retracement is over.
It means that we do not need to consider any far standing levels and should focus only on most recent upside swing. Here I would consider two nearest levels - 1.0390 and K-area of 1.0354-1.0362, say, for stop placement. Also it agrees with broken trendline that gives additional support. Here is our 1.05 target, which is XOP of local AB-CD pattern.