DSI Technical OverviewPosted on Sunday, October 8 2017 at 5:06 am GMT+0000
Daily initial targets reached.
Given the Bearish characteristics reflected on the weekly charts, long term positions remain on hold. While in the medium term, Bullish pressure escalated with the break above 1.60 where a daily reversal pattern had been activated, indicating the initiation of a new Bullish phase. That move paved the way for a further rally towards medium term targets at 1.68 and 1.80. Now that the market reached initial target, traders who liquidated partial positions can trail their stops to the 1.60 entry level protecting against any surprising shift in momentum.