Hey guys so if you have been paying attention to the news you will know that big things have been going on in the US. This can be very exciting especially when using such analysis (fundamental) to make money in Forex! WooHooo!! Okay anyway.. The USD has been having a lot of light shed on it, I won't get into much detail but I will talk about the tax reduction that is about to be passed in congress. Typically when bills
are passed like this that directly effect the economy the best thing to do is sit and watch the price pattern. When I say "price pattern" I mean the "trend" or "flow" of the price of our money. I personally believe this new tax bill will be very good for our economy overall but again you can't just base one trade off of one of analysis. We are the sharks, the market is coming to us for support so if this thing really wants to go up we have to watch its every move. So yall know I love my support and resistance
so I have that marked up @ 1.15547 for support and 1.18794 for resistance. Looking at this section we are than able to mark a trend line
. I have that as shown the trend is bearish
overall but our retractmenttool tells up the trend is beginning to shift. Follow the pattern along with me as we wait for an Elliot
5 wave breakout (pullbacks and retests) in a new direction or a breakout that will continue to respect trend. Connect with my on Facebook
or follow mt strategy here on Trading View!