What a Trading day.. a Continuation followed by a sharp selloff. The continuation was called out here at ShrewdCatFx and the Selloff was punishment to late buyers I suppose. NFP data tomorrow will likely take us for a ride as It typically does.. Direction? I'm leaning for more upside despite our weak Daily candle closure today. Why? I like the optimistic remarks by the fed this week and the market ate it up. Yes we've pulled back dramatically leading into NFP data tomorrow but the weekly candle is still bullish and US30 stock index is at a nice support level(after pulling back all week), suggesting a Risk-on Friday.
4hr timeframe, wild week with dramatic selloff to begin followed by massive move up with USD data and speech
Daily timeframe, Buyers rejected as the Thursday Daily candle closes a shooting star candle that coincides with a Daily resistance level 1.08372!
The Weekly timeframe, price is respecting 1.07652 so far this week but we still have NFP which could cause a lot of volatility
Monthly Range!
