Tomorrow:
Both EUR and GBP will have high impact news. And these will be followed by two high impact USD releases......Unemployment Claims and Philly Fed Manufacturing Index. There is not a lot of incentive for SM (BBs, PPMs, etc.) to give away the highs just yet. If downside is to replace upside, SM could gain a lot by holding the high ground until the last minute, providing more time to prepare.
But, that is just one way to look at it. The charts, in time, will tell us.
For example, look at UChf attached. This is the reverse of the above. Today the run was down (but still an anti-dollar move). I have been waiting for days for this to break up and make a decent upside move. But now PA is at the 0.8900 whole number area again, which is obviously an SR area. But PA could bounce up and down here, and repeat this ranging right on thru the asian and early euro session tomorrow. We might not have for the next move, up or down, any decent setup with a spread out WAVE until after then.
Both EUR and GBP will have high impact news. And these will be followed by two high impact USD releases......Unemployment Claims and Philly Fed Manufacturing Index. There is not a lot of incentive for SM (BBs, PPMs, etc.) to give away the highs just yet. If downside is to replace upside, SM could gain a lot by holding the high ground until the last minute, providing more time to prepare.
But, that is just one way to look at it. The charts, in time, will tell us.
For example, look at UChf attached. This is the reverse of the above. Today the run was down (but still an anti-dollar move). I have been waiting for days for this to break up and make a decent upside move. But now PA is at the 0.8900 whole number area again, which is obviously an SR area. But PA could bounce up and down here, and repeat this ranging right on thru the asian and early euro session tomorrow. We might not have for the next move, up or down, any decent setup with a spread out WAVE until after then.
Attached Image (click to enlarge)
, because the London session today could see this just continue on higher. Even if the USD news is terrific enough to warrant a move down, it could still be spiked up even higher, first.
