We saw a dip down to 161.40 this morning but bulls came back to push price up to 163.05. 163.15 is the line in the sand for the bears to protect based on last Friday's NFP leg down. A break of 163.15 will prove that bulls dominate the move.
I bought a half-size portion at 162.25 because we are currently at the low-side of the range. I'd take a hit if it drops to 161.95 where I might actually look to reverse my position.
From this point on, we can expect price to tighten up to the open of London Session. By then we will know if the bulls intend to dominate or retreat.
I bought a half-size portion at 162.25 because we are currently at the low-side of the range. I'd take a hit if it drops to 161.95 where I might actually look to reverse my position.
From this point on, we can expect price to tighten up to the open of London Session. By then we will know if the bulls intend to dominate or retreat.