Early Friday, Flynn pleaded guilty to knowingly making materially false, fictitious and fraudulent statements to FBI agents, in a plea hearing in Washington, D.
This surprise news drove down the U. Dollar as investors took protection in so-called safe haven or lower-yielding assets. The main trend is down according to the daily swing chart. However, momentum shifted to the upside on Friday with the formation of a closing price reversal bottom.
This could lead to an eventual rally into the next main top at. This could lead to a test of the next main bottom at. Taking out this bottom could trigger an acceleration to the downside. The daily chart is wide open under. This zone is controlling the longer-term direction of the Forex pair. The main range is. Its retracement zone is. This zone stopped a rally on November 27 at. Longer-term, the market has priced in a Fed rate hike in December and probably the passing of the tax reform bill so the Russia investigation will be the wild card the next few weeks.
Furthermore, there is also the possibility of a government shutdown on December 8. The chart indicates that the trigger point for a surge to the upside is. Watch the price action and read the order flow on a test of that level. Given the shift in the short-term fundamentals, this price may be the most important level of the week. The trigger point for a steep sell-off is.
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