Yes , I can certainly see where the hourly bar ending at 2 PM suggests upside. I'll need more confirm to reverse my short position or to take a swing trade long.
I believe this is a bounce in a bear as we got barely through the significant low of fall 2014 and then rocketed up this afternoon. --This is short covering in my view. My long term stance is bearish based on technical indicators coupled with price.
Some brand new QE going on in China http://www.cnbc.com/2016/01/20/pboc-does-400b-yuan-reverse-repos-injects-315b-yuan-for-week.html BoJ thinking of more QE http://news.forexlive.com/!/japan-p...itions-are-right-for-more-boj-easing-20160121 Now just need Auntie Yellen to do the same next week