Good morning traders.
With the 1.0344 figure holding as resistance and keeping the buyers in check for 8 consecutive trading days it is not likely that we will see it broken so easily. There is no real economic data to suggest an increased level of volatility to support a breakout. In addition the pair would be approaching its average daily range for the day if it happened to rally up into the resistance zone.
I'd be willing to get short in the zone knowing that it is likely sellers will protect the upside again.
Enjoy!
With the 1.0344 figure holding as resistance and keeping the buyers in check for 8 consecutive trading days it is not likely that we will see it broken so easily. There is no real economic data to suggest an increased level of volatility to support a breakout. In addition the pair would be approaching its average daily range for the day if it happened to rally up into the resistance zone.
I'd be willing to get short in the zone knowing that it is likely sellers will protect the upside again.
Enjoy!