This pair is worth paying close attention to, a decision to trade can only be confirmed on Wednesday or after Wednesday. The pair is currently bullish bias with 80% probability. Should the bulls triumph, a short retrace is expected at 1.288 to the lowest 1.274 not breaking 1.27. Bullish profit with extension is 1.3
Kommentar:
It is Wednesday and it seems the battle between the bulls and bears still has uncertain victory. The bears seem to have gained more power, making the pair bearish bias. The volatility that will be brought by todays fundamentals should suffice to ensure adequate volatility to an extent that tomorrow's candle should reach a consensus, price reaching 1.273 will strongly increase the probability of the bears coming out victorious. If the bears prevail expect the first profit point to be around 1.256 with a stop loss at 1.283
Kommentar:
The assumption of price reaching 1.273 as leap of faith for the bears victory seems to have been a fluke with only 60+ pips to gain. The market is still undecided about the final direction, but a bearish bias seems to be more prominent on the 240H frame. This pair is still worth paying attention to since it has not yet given a trade signal.