Several hours until the Frankfurt open and here is where the market has taken us thus far.
Open at 1.9612 which was a "Gap" on my MT4 Charts, the close Friday was 1.9592 (20 pip gap at open)
The price moved upward to 1.9615 then dropped back down 1.9576 to fill the Gap left from the Open of Market.
I would expect the Gap up to 1.9612 to be filled on the upward movement from now until the Frankfurt Open.
I actually expect the High during the Frankfurt to be 1.9633 area, or possibly during the first 5-15 Minute Candle of the London Open.
This is only a speculation, first, we must move above the 1.9615/18 prior to reaching this Daily High projection.
The High and Low during Frankfurt and London Open should give us more direction prior to the US Market open in 8 1/2 hours from now.
Through the upcoming session these are the key price I am watching:
1.9612/14 (Frankfurt Open Price projection)
1.9592-1.9605 ( Frankfurt Low projection)
1.9633 (Frankfurt High, or London Open High - first 15 minutes or so)
and then down to 1.9550-54 (Retest of Friday Low)
Range for remainder of London Session should be 1.9565 to 1.9605/12 area.
Well, I put it all on the line, hope your not trading on this scenario, it may just do the opposite.
Have fun, and trade wisely.
C U @ Frankfurt Open.
Open at 1.9612 which was a "Gap" on my MT4 Charts, the close Friday was 1.9592 (20 pip gap at open)
The price moved upward to 1.9615 then dropped back down 1.9576 to fill the Gap left from the Open of Market.
I would expect the Gap up to 1.9612 to be filled on the upward movement from now until the Frankfurt Open.
I actually expect the High during the Frankfurt to be 1.9633 area, or possibly during the first 5-15 Minute Candle of the London Open.
This is only a speculation, first, we must move above the 1.9615/18 prior to reaching this Daily High projection.
The High and Low during Frankfurt and London Open should give us more direction prior to the US Market open in 8 1/2 hours from now.
Through the upcoming session these are the key price I am watching:
1.9612/14 (Frankfurt Open Price projection)
1.9592-1.9605 ( Frankfurt Low projection)
1.9633 (Frankfurt High, or London Open High - first 15 minutes or so)
and then down to 1.9550-54 (Retest of Friday Low)
Range for remainder of London Session should be 1.9565 to 1.9605/12 area.
Well, I put it all on the line, hope your not trading on this scenario, it may just do the opposite.
Have fun, and trade wisely.
C U @ Frankfurt Open.