We got the pullback we expected last week, albeit slightly further than anticipated. Price hit the 107.543 area and then we got the bearish moves we wanted, with a huge drop down to 105.684.
We had two scenarios set up last week; long and short. We got both moves, so opportunities were there to enter both.
Dollar is still weak overall, so bias is still bearish. We’ve had a break of support, so it’s possible we will get a push up to retest the new resistance, which lines up nicely with the 0.618 FIB, ready for a further push down.
We had two scenarios set up last week; long and short. We got both moves, so opportunities were there to enter both.
Dollar is still weak overall, so bias is still bearish. We’ve had a break of support, so it’s possible we will get a push up to retest the new resistance, which lines up nicely with the 0.618 FIB, ready for a further push down.