We would like to see the break of the and continuation to the downside (past buyers area @1.9370-50), but on the other hand we have to take in consideration the moves of the GBPUSD and NZDUSD . Both are moving really slow and without clear direction. NOTE: If you look at the , we have some divergence – where the is going higher but the currency keeps printing lower candles – again a potential fake or message that the bounce is about to go north.
On the GBPUSD , we have been stuck in a range of 1.7105-1.7160 and the NZDUSD not giving away the short below the 0.8800. NZDUSD currently stuck in the 0.8800-0.8825 area. So, until we get a clear direction going into next week, we will be trading the break of the DESCENDING .