It's only mid month so I may be a little early to say that it is going deep south; And for a couple reasons; 1) USD core cpi remained as expected at 1.7%. Which is one of two economic indicators besides employment data that is monitored by the Fed for next rate decision. And 2, we broke major support level at 1.28 which could send this pair down, possibly to 1.15. Yes that low! 1.2570 is the last hope for the bulls, if that is taken out... oh, it's going down. Lastly, if we close the month above 1.28 level then the breakdown of support level was to shake out the weak hands. ;) Happy Trading folks! cheers.
Comment:
Trading view gives us a 15-minute window from the time this goes live to make any type of edit before it becomes permanent. Oh well! The trend is your friend.
Trade closed: target reached