The writing was on the wall for this one -
>>rising wedge,
>>longest MACD green swing in this pairs history
>>lots of new analyses recently on this currency pair, which is usually dead, all of them bullish.
However, though a pullback was long overdue, I'd say fundamentally nothing has changed. At a glance, DXY is down a bit, albeit on strong support, US banking sector is under some stress, and interest rates/inflation continue to be a problem. However, obviously Russia is doing far worse.
My guess is, maybe 67-72 if it even comes to that and doesn't simply spring back up into the 80's.
>>rising wedge,
>>longest MACD green swing in this pairs history
>>lots of new analyses recently on this currency pair, which is usually dead, all of them bullish.
However, though a pullback was long overdue, I'd say fundamentally nothing has changed. At a glance, DXY is down a bit, albeit on strong support, US banking sector is under some stress, and interest rates/inflation continue to be a problem. However, obviously Russia is doing far worse.
My guess is, maybe 67-72 if it even comes to that and doesn't simply spring back up into the 80's.