As u can see the market price broke the previous daily high with a strong impulse to the upside creating a new high, to then followed by a correction to the downside which is also retesting the previous daily level, we then see price giving a massive bullish reaction closing above the previous daily range engulfing the whole candle which means that the bulls are in control as of right now, if this days candle stays above the previous days range we could then anticipate a another correction to the upside because of the strong impulse to the downside, like a retracement, also taking in the 4 hour pivot point 1.29600. we could also see some spikes to the downside because of the news volatility. So be aware
Personally if we stay above the previous daily range i could see price heading to 1.30
also taking in the FOMC news we could see the opposite as well, now we just wait till the news drop and wait for the daily candle closure.
I could be wrong so trade at your own risk.
Personally if we stay above the previous daily range i could see price heading to 1.30
also taking in the FOMC news we could see the opposite as well, now we just wait till the news drop and wait for the daily candle closure.
I could be wrong so trade at your own risk.