What great opportunities we have seen in the last 24 hrs-so much so that i have been too busy to write this blog. Great vertical bars in Euro$ and another 'spurt' at 8.30 this morning. No one would doubt the strength of price action we saw in the European session and the US session yesterday and minimal retracement overnight.
However on this mornings move up to 1.3637 we already have a 100% RT and in the back of my mind i am wary of a coming severe reaction-perhaps it will come this Friday-perhaps next week or perhaps it will never come and price will fall straight through the RL on the USDX ( arrowed in red). There is little doubt in my mind that Euro$ is heading for the black CL on the above chart which coincides with the important 'phyc' level of 1.4000.
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