Caught between 2 zones of support and resistance.
Support area (red box) much stronger. Confluence of old support level (3rd may 2016 low), .764 fib retrace of 5th may - 8th sept decline, .5 retrace of 8th sept - 27th oct incline.
Look to fridays NFPs for guidance on which way this will break.
Will be back with an update after release
Support area (red box) much stronger. Confluence of old support level (3rd may 2016 low), .764 fib retrace of 5th may - 8th sept decline, .5 retrace of 8th sept - 27th oct incline.
Look to fridays NFPs for guidance on which way this will break.
Will be back with an update after release
Comment:
Weak NFP data produced a break to downside. Not much huge support in this area. See if it stays below the .618 to test midpoint in channel :
