Relatively simple. With the EURO-ZONE and general PMI’s out we’re just looking for a break above or below the 1.070 handle.
The lows developed on the previous monthly closing range are looking poor and euro-like. Leaning on a bearish trend today.
Spuz broke out finally after all that short covering played out into the poor highs from the previous ATH.
I’m looking for a ‘W’ day with relatively weak attempts at selling. Look for for the dip buyer battle off this break higher.
Relative to the box in the sand, i’d say it’ll be a trend like bounce around day until the sellers finally give up.
Considering the drama yesterday, to keep it simple i’m just looking for an inside day.
This morning’s single print needs to be defended to get us back inside that flushed areas value. between 60.5 -57 this would be our pivot for that self fulfilling prophecy.
Refer to set up above. We broke 57.5 with conviction. Looking to retest half of yesterdays over reactive range.