Hi all, PA on the daily looks to me as if there is a strong chance to turn bullish in the next couple of days even though we’ve had a strong bearish momentum today. Tomorrow I expect the same FOMC wording about transitory inflation, tapering and the rest, similar to 19.May. I guess we shall see another red candle on the daily after FOMC and the dollar will be getting stronger. Technically I think that there is still a very good chance for the price to reach the middle of the range in the box – 1.3957 and possibly jump over to the north side towards 1.4 by Friday or early next week. Do I smell a rat in the short positions? Any suggestions or I am just imagining this? Thanks. Have a good evening everyone.
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