Looks like we need to get thru 100 and 200 MAE on 4hr TF to see 50% fib of 235.80's. . .
I'm watching these levels closely as the DOW continues moving to its lows for the day. If we make it thru then we are in a downtrend reversal. . . I'm watching USD/JPY as it has not made a new low since in earlier seesion. It has bounced off 112.80 several times and held. So it will be hard for geppy to go deeper south unless GBP/USD and USD/JPY moves south together. . .
If GBP/JPY continues to bounce off the 100 MAE and not make a new low in the NY session then we will probably see it retrace back up. . .
100 and 200 MAE comes in @ 237.28 and 236.53 on 4hr TF
Can someone please verify these numbers on 4hr TF - Thxs in advance. . .
I'm watching these levels closely as the DOW continues moving to its lows for the day. If we make it thru then we are in a downtrend reversal. . . I'm watching USD/JPY as it has not made a new low since in earlier seesion. It has bounced off 112.80 several times and held. So it will be hard for geppy to go deeper south unless GBP/USD and USD/JPY moves south together. . .
If GBP/JPY continues to bounce off the 100 MAE and not make a new low in the NY session then we will probably see it retrace back up. . .
100 and 200 MAE comes in @ 237.28 and 236.53 on 4hr TF
Can someone please verify these numbers on 4hr TF - Thxs in advance. . .