Current Market Status on 4hr : Mixed/Bearish
Reason : Unconvinced either way massively but Thursday's move could be the start of something
As suspected EU dropped this week after the huge Bullish move upwards previously. Profits were taken and after a failed further move up on Tues Bears took control moving it down slowly at first before Thurs 100 pips drop in 8 hours or so.
Looking ahead Wednesday potentially could be voltaile due to both the Fed and teh ECB releasing their policy decisions.
There isn't much in the way of bears pushing down the pric further to 1.10 but they could always revisit recently formed supply before heading south again
Reason : Unconvinced either way massively but Thursday's move could be the start of something
As suspected EU dropped this week after the huge Bullish move upwards previously. Profits were taken and after a failed further move up on Tues Bears took control moving it down slowly at first before Thurs 100 pips drop in 8 hours or so.
Looking ahead Wednesday potentially could be voltaile due to both the Fed and teh ECB releasing their policy decisions.
There isn't much in the way of bears pushing down the pric further to 1.10 but they could always revisit recently formed supply before heading south again