SO here we go, the start of the European session...let's see if all that bottled up energy gives us some volatility todayI expect tomorrow's US open to be intense. There was a massive equity sell off last week....and usually those "day after' days are volatile...adding to that that we had a holiday today.
Yup, and this lack of direction is clearly spilling over to the EURUSD side...I was taking a look at Dollar Index this morning, and I cannot see any indicators telling me anything conclusive as to where we are going from here on in. Both the RSI and CCI on the H4 are in their mid-ranges...I don't see exhaustion...but the push is also absent...at this time that is.
It could be that we have some consolidation trading in a range...interesting for grid traders...little bit less for manual trading...
If we do continue on the long trend however...I would expect it to be on it's last legs. My bias is shifting to the downside after the strong pullback we saw this week.
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