Potential For Upside Movement Puts The Looney In The Spotlight

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    After posting continuous losses over the past few of months, the Looney may finally have some upside potential. While I don’t think anyone expects the pair to erase the epic plunge which started in January, a bearish rectangle may see the USD claim back some ground in the short term. Looking at the technicals reveals a number of compelling reasons to expect a decent rally for the pair, in spite of the spate of recent US economic indicator disappointments. A cursory glance at the daily chart

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