The probable pattern here is closely related to the labor market report. We have data coming out on unemployment in the US.
In addition, today the stock exchanges of the US, European countries, and Hong Kong are closed due to the Good Friday holiday.
What pattern?
We have a strong support level + negativity ahead of important data.
Very often, things work the other way around for us. If prices are pushed down before important events, we get a positive market reaction at the event. This also works in reverse, if we grow before an event, the market reacts negatively afterwards.
Today, I am considering the probability of this pattern after the data is released. If we go below 1840 (a confirmed drop, not a fake one), then the scenario of an upward trend takes a "back seat".
In addition, today the stock exchanges of the US, European countries, and Hong Kong are closed due to the Good Friday holiday.
What pattern?
We have a strong support level + negativity ahead of important data.
Very often, things work the other way around for us. If prices are pushed down before important events, we get a positive market reaction at the event. This also works in reverse, if we grow before an event, the market reacts negatively afterwards.
Today, I am considering the probability of this pattern after the data is released. If we go below 1840 (a confirmed drop, not a fake one), then the scenario of an upward trend takes a "back seat".