Price failed to create upward momentum after the Cloud break
yesterday and is currently moving sideways, consolidating.
This pattern was seen before last leg up, from Dec 23, so
we might see another pop.
Bulls are mainly worried about a sharp drop and a taking
out of the 1.6100 low from Dec 31. Price should stay between
the Daily S1 and R1. A close above the red resistance line
could spark more upside and a test of the R1 from here.
Right now price is crawling by the lower band of the Cloud
after trying a break above during Asia session.
yesterday and is currently moving sideways, consolidating.
This pattern was seen before last leg up, from Dec 23, so
we might see another pop.
Bulls are mainly worried about a sharp drop and a taking
out of the 1.6100 low from Dec 31. Price should stay between
the Daily S1 and R1. A close above the red resistance line
could spark more upside and a test of the R1 from here.
Right now price is crawling by the lower band of the Cloud
after trying a break above during Asia session.