The high of the Week was Monday the low of the Week was Friday but all of that was still inside the range of August 2nd. I would look to breaking the August 2nd high of 102.83 or its low of 100.67 on a closing basis your true trend decider in the Short Term. Otherwise daytrading with these number in mind should be the call for the next couple trading days.
From Cycle work we are calling for a BUY turn date on August 15, Which works well with today's action - Buying the dip on momentum up should get you back to the top on August 2nd area, with low risk stops... from there you can see if its got the mojo to move into the over hanging cloud. Like GBPUSD the sentiment is VERY SHORT thus any stop running could produce a good little rally only to get short again.
From Cycle work we are calling for a BUY turn date on August 15, Which works well with today's action - Buying the dip on momentum up should get you back to the top on August 2nd area, with low risk stops... from there you can see if its got the mojo to move into the over hanging cloud. Like GBPUSD the sentiment is VERY SHORT thus any stop running could produce a good little rally only to get short again.
