Cable technicals: Look for minimum retracement to 1.5365
I’m bullish as you know and I think the down-move to 1.5133 gave bulls an excellent opportunity to gather some cheap ones before the big move higher. But, I’ve been wrong plenty of times before and maybe we are currently seeing the beginning of a big USD move higher (it’s not as if the Fed’s printed squizillions of extras, or?).
Even if I am wrong again, we should at least see the cable retrace towards its 38.2% of it’s most recent fall (see chart).