DislikedThere's a very good chance this pair will revisit 1.6580 before the really big move up begins. We've cleared the roof now with today's move, inviting buyers to join in early before a percieved breakout to the upside. Meanwhile, many shorts were stopped out at 1.6740, I believe. Now a big fall to 1.6570 will stop out all the longs that just got in, and at same time invite sellers to join in the "breakout" to the downside. They will soon learn that the breakout downwards was a fake, but that won't stop most of FF from shorting at various fib levels...Ignored
Possible I'm wrong? Of course.
This looks very clear to me, though.