It is interesting to see that the Dollar Index broke an important trend-line and price action now has only barriers for support.
Most Dollar pairs are showing potential signs of further reversal so it is difficult to access whether this is a trend change or just a pause in further USD weakness. I would suggest we may see prices struggle in a range for the beginning of the week and then the possibility of blow-off tops and bottoms on many pairs.
The price action has broken an important trend-line and is now subject to many possibilities.
Some correction to start the week. I would expect at least one good push upwards riding on the momentum of the previous break-out; However I don’t have a sense of the target.
Here, I wonder if a top is in place or just how close one is at hand. Still a push upward is not out of the equation.
Here a bottom is likely to form soon. The question is if it will break the barrier at 1.1500
Is this a top or just a pause before further rise?