The last nice move of ~50 pips came off of this sudden drop from the 5m convergence of ema's. The next big move which could be massive could likely be driven off of the convergence developing in ema's on the 1h chart.
Everytime the ema's converge tightly there is volatilty and imminent directional movement. The larger the time frame, generally the larger the move. No significant news out til Wed so this 5m move might range until another gathering of ema's tightly converge... preferrably on a higher tf such as this 1h chart.... news not withstanding.
Just my simple observation.
Dr. D.
Everytime the ema's converge tightly there is volatilty and imminent directional movement. The larger the time frame, generally the larger the move. No significant news out til Wed so this 5m move might range until another gathering of ema's tightly converge... preferrably on a higher tf such as this 1h chart.... news not withstanding.
Just my simple observation.
Dr. D.
Attached Images
still short from yesterday 09:00GMT @ 1.6370 
