H1
On this time frame the pair is headed downwards towards an area close to the intersection of the solid Blue,Red and Black curves. The blue circle is particularly important because its a big area to be tested.
This blue circle could act like a "Energy Center" in the same way that the green circle did at 4050. A solid bounce off the blue curve, which I doubt will happen, can cause a higher high than 4455 to be reached.
What is more expected is a mediocare bounce upwards followed by much more agitation, as price tries to mold itself around this blue curve and go further down.
M15
The 2 big red circles are going to provide the squeeze necessary to push this pair downwards towards the blue circle. The dotted grey line is a possible path downwards. But there is not enough points to verify this yet.
There is heavy support at anywhere in between 4250-4270 area. The size of the rebound will dictate whether this important circle will act as support or whether the upward bounce from it will be bound by the black curve or not.
Non farm payroll will provide a very good answer to the above puzzle.
On this time frame the pair is headed downwards towards an area close to the intersection of the solid Blue,Red and Black curves. The blue circle is particularly important because its a big area to be tested.
This blue circle could act like a "Energy Center" in the same way that the green circle did at 4050. A solid bounce off the blue curve, which I doubt will happen, can cause a higher high than 4455 to be reached.
What is more expected is a mediocare bounce upwards followed by much more agitation, as price tries to mold itself around this blue curve and go further down.
M15
The 2 big red circles are going to provide the squeeze necessary to push this pair downwards towards the blue circle. The dotted grey line is a possible path downwards. But there is not enough points to verify this yet.
There is heavy support at anywhere in between 4250-4270 area. The size of the rebound will dictate whether this important circle will act as support or whether the upward bounce from it will be bound by the black curve or not.
Non farm payroll will provide a very good answer to the above puzzle.
Attached Image(s) (click to enlarge)
