I thought i would start this thread to help some of us newer FX traders identify trend changes/continuation patterns in the major currency.
To me, this is another pivotal moment in the DX which could define the trend for the next few weeks, even months with the passing of the bailout package. The USD could come under pressure now. Technically the chart looks oversold and depending on what happens next week we could be seeing some bearish divergence.
Anyone care to comment on the direction of the USD in order to help us take a view on the markets for coming week?