2016 is over but there is one more thing remained to be corrected. Election of Trump was the cause of last 2016 impulses which brought the flow to this point and seems the same guy ( Trump Effect cause ) is about to end it.
So as always we're looking for pullback as retracement up to 1.7000 max, which follows by immediate rejection and contraption just before KPL.
Based mostly on Market Profile and Price Action (daily charts) the strongest levels for short swings are 1.0710 and 1.0765. Heavy volumes were traded between those levels (accumulation) followed by strong rejection of higher prices resulting into renewed sell-off. I think that the sellers will be active there again.
Only thing to watch out for is ECB meeting on Thursday. Basically anything can happen there and I won't be trading during this event.
You can see my analysis here:
Only thing to watch out for is ECB meeting on Thursday. Basically anything can happen there and I won't be trading during this event.
You can see my analysis here: