Today we might see hoghs in the 1.13102 but I am expecting to close the day below 1.125. The target for the next two weeks is still 1.11814 or below.
Comment:
The last 8 days showed a complex mean return pattern and my goal of 1.11814 is getting closer. In the minute time-frames, there are already a lot of end-of-cycle signals but in my opinion, there is a potential of hitting the bottom around 1.116 after a retracement - maybe with high volatility.
Trade closed: target reached:
If today closes short it is 59% likely that tomorrow will close short as well
Comment:
average prices follow the red supercycle now for apx 1,5 month. Yesterday could have been a midterm bottom followed by a complex retracement and I feel a tendency of even lower rates till September.