Yes we haven't finished for today yet but started my analysis for tomorrow already as I have a few hours spare.
So a quick heads-up of what we can expect.
OK to start with we are still trending down, with a target of 1.2641 as seen by fib extension on daily chart below.
Going back to the 15 min chart, the pink fibs are key (prior days swing move)
If during the Asian session we see prices fall, we would like to see price return to around the 38% or 50% fib before we would be happy to short. ie 1.2873-1.2903 levels.
Again the red and green lines show prior days highs and lows.
Purple are points of sup/res.
As can be seen from the chart at the moment we are stuck in a consolidation pattern. I expect this to break at some point overnight - probably down. However I do not trade overnight, I will evaluate at the start of the UK session.
So a quick heads-up of what we can expect.
OK to start with we are still trending down, with a target of 1.2641 as seen by fib extension on daily chart below.
Going back to the 15 min chart, the pink fibs are key (prior days swing move)
If during the Asian session we see prices fall, we would like to see price return to around the 38% or 50% fib before we would be happy to short. ie 1.2873-1.2903 levels.
Again the red and green lines show prior days highs and lows.
Purple are points of sup/res.
As can be seen from the chart at the moment we are stuck in a consolidation pattern. I expect this to break at some point overnight - probably down. However I do not trade overnight, I will evaluate at the start of the UK session.
