Well, we got less than 20 minutes to go, but I thought I'd get a jump start. The months not over yet, but price is trading below the 20/50 and has been that way for quite some time. Cable broke down this month after breaching the April low.
When it comes to the boss, last week's candle/bar was inside the "fat-finger" candle/bar and broke down over the course of this week. Price has managed to find support around 1.4228, forming a weak-looking doji, which may lead to a retracement.
Finally, the worker hints at some kind of retracement as well with a bullish engulfing candle/bar. The same can be said on all the major pairs though. I don't know how much momentum will be involved, but I'd be looking to fill some wellies if there is a bearish signal around the 1.47 to 1.49 area. Could the elastic band effect come into play here with the 20? We'll have to wait and see. So far, these bounces have been really weak. Fib confluence could come into play as well. Just got to wait and see.
When it comes to the boss, last week's candle/bar was inside the "fat-finger" candle/bar and broke down over the course of this week. Price has managed to find support around 1.4228, forming a weak-looking doji, which may lead to a retracement.
Finally, the worker hints at some kind of retracement as well with a bullish engulfing candle/bar. The same can be said on all the major pairs though. I don't know how much momentum will be involved, but I'd be looking to fill some wellies if there is a bearish signal around the 1.47 to 1.49 area. Could the elastic band effect come into play here with the 20? We'll have to wait and see. So far, these bounces have been really weak. Fib confluence could come into play as well. Just got to wait and see.
"Don't trade to trade . . . trade to win." - James16