Price is really getting overextended from the 20 EMA on the weekly chart shown here. The next support zone is not too far away and I think price may stall/retrace to allow a catch up to or get closer to the EMA.
I still remain bearish on the USD through 2021, but those of us who have been bearish on the USD for a long time should get a bit cautious now.
We have no way of knowing or timing this change in bias, but we can prepare ourselves for at least a short term adjustment.
If you like my analysis, please give it a "thumbs up" and follow me to get immediate notifications.
As always, please use sound money and risk management in all your trades.
I still remain bearish on the USD through 2021, but those of us who have been bearish on the USD for a long time should get a bit cautious now.
We have no way of knowing or timing this change in bias, but we can prepare ourselves for at least a short term adjustment.
If you like my analysis, please give it a "thumbs up" and follow me to get immediate notifications.
As always, please use sound money and risk management in all your trades.