How low will this UY go?
The UY continues to fall with a massive fall off today from 81.85 to 81.25, and as of this writing it is still falling and seem set to hit 81.00 or lower. With big news coming out today, including trade balances, unemployment claims and PPI m/m in the US, one wonders how the dollar will fare. It could force UY even lower, I can't wait to see the effects later on today.
The 3 hour and 1 hour charts tend to support a downward trend in the UY. A short seems like a safe bet over the next couple of days, but this may be affected by the news today. As they often say, the 'trend is your friend until it bends'.
hmm in my opinion it will fall more 100 pips or even more but not more than it it will up again with same speed as i see the histry of UY for 5 years ...
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