Morning guys,
so, correction is still pressing down to ,303. I believe whole yesterdays bear was caused by bad Chinese data. As has been said, dollar gains everytime world struggles. Now if we break down, I think we are entering quite dangerous area leading to chop for like two weeks. We had two month long bearish trend so bears still have lots of power. But this is strong monthly S zone and possibly will decide direction of trend for coming months. All of this may lead to heavy fight and chop (corrections @ 80%). It would be some trianguloid, but ,29 - ,303 should cover most of moves.
Needed to say, Chinese data is imo big impact, so bearish pressure is pretty strong, so this scenario really may play out. Ehem, and now conspirational, I think ,303 is guarded by some CB. Not the number, but like entrance to the zone. Charts shall tell, maybe.
GL,
T
so, correction is still pressing down to ,303. I believe whole yesterdays bear was caused by bad Chinese data. As has been said, dollar gains everytime world struggles. Now if we break down, I think we are entering quite dangerous area leading to chop for like two weeks. We had two month long bearish trend so bears still have lots of power. But this is strong monthly S zone and possibly will decide direction of trend for coming months. All of this may lead to heavy fight and chop (corrections @ 80%). It would be some trianguloid, but ,29 - ,303 should cover most of moves.
Needed to say, Chinese data is imo big impact, so bearish pressure is pretty strong, so this scenario really may play out. Ehem, and now conspirational, I think ,303 is guarded by some CB. Not the number, but like entrance to the zone. Charts shall tell, maybe.
GL,
T
"I know one thing, that I know nothing." Sokrates
