Yesterday we opened the Frankfurt at 1.9725, and the low during the Frankfurt hour was 1.9722, which Cesarnc has as a support.
Once the London opened at 1.9745 it shot up to 1.9777 - then 2 1/2 hours later it dropped below the Frankfurt low and dropped to a low of 1.9634.
Then the US News came out, and brought it back up within 14 pips of the high at 1.9763.
I will be watching the London Session today, it should give a better indication if this upwards move is cooling, or if the support is holding still.
Once the London opened at 1.9745 it shot up to 1.9777 - then 2 1/2 hours later it dropped below the Frankfurt low and dropped to a low of 1.9634.
Then the US News came out, and brought it back up within 14 pips of the high at 1.9763.
I will be watching the London Session today, it should give a better indication if this upwards move is cooling, or if the support is holding still.