inside the Kumo Cloud again but retreated into the close and
closed 2 pips above the lower Kumo Cloud. Today the lower Kumo Cloud
stands at 1,0914 and chances are price will test it and , from a
perspective a close below would be ideal for more conviction of downward
along with a close below theWeekly PP at 1,0908. continuation, in line with the
larger patterns previously mentioned. Also a cross would add
to the downward pressure.
A daily close inside the Cloud or a test of the lower Cloud and a bounce from there
will be somewhat troublesome for Bears and perhaps indicicate a prolonged
consolidation inside the Cloud without much momentum in either direction.
Important Resistance stands at yesterdays high 1,0990, Weekly R1 1, 1015 , 1,1060
upper Kumo Cloud.
Support below the Kumo Cloud is Monthly R1 1,0891,
1,0835 and 1,08