02.06.2022

WEEKLY CHART: There are clear signs on this chart that an out-sized move is possible and imminent.

1-An ENDING DIAGONAL that shows pressure building in the price, if this breaks we could see a sharp move to 6.60+

2- POSITIVE DIVERGENCE on the RSI indicating that the market is absorbing all the selling pressure very well.

This has the potential to be extremely disruptive to capital markets in general and it is a RISK worth noting. We need to be very cognizant of this pair and keep a close eye on it as it has massive repercussions for the global economy, think GLOBAL TRADE and the role China plays in it.