Quoting MoneyMa$terDisliked1.9563ish was Thursday's low; assuming support is now in the 9550-9560 area, it would make sense for cable to drop to 1.9562 as it continues establishing the new support level.
Also guys and gals, if you draw your fib on the 1 HOUR CHART, from Dec 18th's low of 9430 to the Dec 20th high of 9750, you will see all the prices moving about the fib levels. For example, you'll see today's high bounced of the 23 level; you'll see 9550 at the 61 fib (with six bounces over the last week) and you'll see current price hovering at 38 fib.
....the last two times price passed 9675 breaking through 23 fib on the 21st and 22nd of December, cable fell back to the 61 fib, which as we know is 9550. However, because cable broke through Cesarnc's Channel, chances are it won't fall that low this time but more likely to fall to 9560-9570.
One last point, there's a nice little pin bar on the one hour, signaling a possible move to the upside and as we know, overnight it's not unusual for cable to move up.
Conclusion: Overnight gain to 9650 area, followed by short move targeting 9560ish, more like 9570. Higher gain tonight helps lock in 100 pips to the downside as we move to 9570 tomorrow.Ignored
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