Here are the follow on charts from my previous post after the US opening. To the left we see the LMLP in magenta/pink plus the reaction line. E-signal has it's good qualities but sadly the Andrews Fork tool is not one of them and it is notoriously inaccurate and thus i think the thinner parallel red line( look at the touches) maybe the correct position for the downsloping RL that has held price back today. Then we add the new green fork which does a great job of holding falling price on its LMLP and we have also added the first full 100% RL (you can draw them at 50% distance and often they just as important). We must wait for price to reach this RL but i suspect price will be channeled back up and into the 'corner' where these two meet before breaking out. It is interesting to then add firstly the Fib RT and then to the far LHS of the chart the Fib Ext levels. The .618 FE falls at the confluence of 2 centre lines and one already proven RL. There is no potential trade here (or on lower TF's) for me but i will watch with interest. Are we witnessing the first cracks to appear in the Euros current run? I cannot remember in the last 5 weeks a CL failure in Eur-$ in these sorts of time frames ie 30 & 60 min, plus i am asking myself the same questions as i have been since last Friday especially in light of the behavior around this important median line in this weekly chart.
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