Price retreated yesterday after reaching a new high.
During Asian session we may see price break below towards the demand/resistance level(157.70) before bouncing off of this around London pre/open time.
If price breaks/retests the 158.33 level, a conservative target would be 158.80(50% Fib. level)
Watch the price action at the support/resistance levels to determine if price is continuing in the same direction or there is a change of structure.
Happy Trading.
Good Luck
During Asian session we may see price break below towards the demand/resistance level(157.70) before bouncing off of this around London pre/open time.
If price breaks/retests the 158.33 level, a conservative target would be 158.80(50% Fib. level)
Watch the price action at the support/resistance levels to determine if price is continuing in the same direction or there is a change of structure.
Happy Trading.
Good Luck
Price crashed through the lower zone after the news and kept heading south.
Wait until price settles around a Demand Zone(look to the left of chart on higher time frame), and watch price action for reversals and/or shallow pullbacks and continuation to the downside.