We have printed two Bullish Monthly Candles back to back.
The first week of this current monthly candle for May 23' has closed as an indecision candle.
I am gravitating towards the Bull side but would not be surprised to see more of a sell off after the May FOMC decision
The FOMC decision to raise rates by 25 basis points coincided with our extreme highs of the Year around the 1.105 Weekly Level
In a way I want to be proven wrong on the Sell Side for EU. I want to see Buyers stay strong around our extreme Highs here in the 1.10's and
not be phased by a short term descent in price as FOMC price action settled after the initial announcement.
I would like to see buyers at 1.09718 and 1.09480 Daily Level's be taken out before any more of an ascent occurs. The Price I'm looking for is 1.09176 Daily Level.
To begin the week before CPI data on Wednesday I will be looking for price to pullback but will be happy if proven wrong instead with price displaying a quick ascent back to 1.1095 and beyond with CPI numbers.