Looking at the chart from the month down to 30m the market is consolidating. For me, the present price move would touch the 132.022 support zone. Then a possible reaction to Japan's large scale retail sale news (11:30 Today)and then from 8:30 am tomorrow Bank of England consumer credit report, Mortgage lending, M4 money supply would likely push the price down to 130. Any further close below that level could send the price even lower towards 128.84
Though close above the high end of the zone reflects the bear's hesitation and may cause a rally towards 135.81. Any further close above that level could extend the rally towards 137.83.
Though close above the high end of the zone reflects the bear's hesitation and may cause a rally towards 135.81. Any further close above that level could extend the rally towards 137.83.