Analysing the chart we have seen strong price movement in the 4HR BB on the 1M timeframe looking like a reversal, as you can see I have made 3 potential outcomes for price considering jobless claims and pmi this afternoon.
1.Blue line- Price continues sideways for a while and then as the news releases price breaks to the downside and continues to the lower 4HR BB
2.Red Line- Price continues sideways but accumualtes ready for 8AM NY then news releases breaking price the upside and continuing to the 4HR supply/BB
3.Green Line- Price continues sideways until 8AM NY then the news releases spiking price to the liquidity above the current 4HR BB ready to then spike and continue lower to the 4HR BB
Both scenario 1 and 2 have available liquidity between the levels 1.0825 and 1.0790
1.Blue line- Price continues sideways for a while and then as the news releases price breaks to the downside and continues to the lower 4HR BB
2.Red Line- Price continues sideways but accumualtes ready for 8AM NY then news releases breaking price the upside and continuing to the 4HR supply/BB
3.Green Line- Price continues sideways until 8AM NY then the news releases spiking price to the liquidity above the current 4HR BB ready to then spike and continue lower to the 4HR BB
Both scenario 1 and 2 have available liquidity between the levels 1.0825 and 1.0790