It's still too early to tell where this is going. Asia, Europe and US still have to react to the news.
However, look at what we have here.... Rising channel (RC-1) resistance, coupled with the monthly rising trend line (RTL-0) mentioned in my earlier post, plus the 38.2 fibo of the move down from the May 1st high seem to be offering strong resistance.... at least for now anyway. Take note that we also have some serious bearish divergence and the RSX showing an overbought condition. These are all perfect technical reasons to sell. Remember however that a face ripping short covering rally doesn't care about technicals.
My 1.26670 sell limit order got triggered 0.1 pips higher at 1.26671 which is also the absolute high. Wow, right to the 10th of a pip. If this sucker drops from here, this will be my first ever perfect sell limit order (thanks in part to a 0.1 pip positive slippage from my broker).
E/U H4
However, look at what we have here.... Rising channel (RC-1) resistance, coupled with the monthly rising trend line (RTL-0) mentioned in my earlier post, plus the 38.2 fibo of the move down from the May 1st high seem to be offering strong resistance.... at least for now anyway. Take note that we also have some serious bearish divergence and the RSX showing an overbought condition. These are all perfect technical reasons to sell. Remember however that a face ripping short covering rally doesn't care about technicals.
My 1.26670 sell limit order got triggered 0.1 pips higher at 1.26671 which is also the absolute high. Wow, right to the 10th of a pip. If this sucker drops from here, this will be my first ever perfect sell limit order (thanks in part to a 0.1 pip positive slippage from my broker).
E/U H4
Those who say it cannot be done should not interrupt those who are doing it