EUR\USD has a Daily Volume Inefficiency right below this weeks closing price. I expect that, with the current momentum and the draw that this particular inefficiency is having on price for it to tap into this area and quickly spring up.
This area of Volume Inefficiency is a visible Gap on the Daily chart Friday March 17-March 23rd this is also a Weekly opening gap that we have tested many times but have not managed to close.
Here is the crux, if Monday or Tuesday you close the Gap by laying a solid candle across this Gap then I would expect EUR\USD to quickly find its target at 1.063.
But with Dollar retracing, I am expecting the inverse of EUR\USD meaning that it will make a step ladder run drawn by 1.083.
This area of Volume Inefficiency is a visible Gap on the Daily chart Friday March 17-March 23rd this is also a Weekly opening gap that we have tested many times but have not managed to close.
Here is the crux, if Monday or Tuesday you close the Gap by laying a solid candle across this Gap then I would expect EUR\USD to quickly find its target at 1.063.
But with Dollar retracing, I am expecting the inverse of EUR\USD meaning that it will make a step ladder run drawn by 1.083.
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EUR\USD looking weak
Not getting as much movement as I would have thought here.
Maybe Asia decides to do something before CPI Tomorrow
Not getting as much movement as I would have thought here.
Maybe Asia decides to do something before CPI Tomorrow
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It is what it is till its not...hard lesson from Price Action
While Dollar consolidates anything can happen...
While Dollar consolidates anything can happen...
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Be careful