Tomorrow Thursday the 30th March I expect to see Dollar weakness among 3 major pairs and I also get bearish signals in the Dollar index.
At the 38% Fibonacci retracement support level. Still inside the bullish channel in the daily chart. Short-term oversold conditions and reversal signs. I expect to see a bounce towards 1.0810 at least tomorrow.
GBPUSD with article 50 talks in the spotlight, GBPUSD showed today that is holding its ground. A move at least towards 1.25 is expected as price has back tested successfully the broken resistance trend line in the daily chart and is also showing reversal signs in the 4 hour chart as price is bouncing off the 38% Fibonacci retracement.
USDCAD With Oil strong and breaking higher towards 50$, the USDCAD is weakening and as you know from twitter, I’ve been bearish since 1.34 looking for 1.31 (or 1.32).
— Alexandros Yfantis (@alexanderYf) March 28, 2017
Price has broken an important support trend line and is trading below the Ichimoku cloud in the 4 hour chart. Short-term trend is clearly bearish and I will be expecting a bullish reversal between 1.3250-1.31.
Finally the Dollar index….
Thank you for taking the time to catch up on my thinking.