07/21/15 UPDATE: Right on the Money!
Trend continues to follow through the pitchfork as mentioned in my previous posts.
Keep an eye on the 1H highs and the slopes starting from July 14; the slopes are gradually becoming more positive. At this point, we can expect bullish movement toward 1.0925 right in time for our US CPI data release at 0830 EST, at which point we'll see a reversal into bearish movement toward 1.0835 (the next major support)
The 4H chart also shows an inverted hammer, further showing the possibility of a bullish trend.
Trend continues to follow through the pitchfork as mentioned in my previous posts.
Keep an eye on the 1H highs and the slopes starting from July 14; the slopes are gradually becoming more positive. At this point, we can expect bullish movement toward 1.0925 right in time for our US CPI data release at 0830 EST, at which point we'll see a reversal into bearish movement toward 1.0835 (the next major support)
The 4H chart also shows an inverted hammer, further showing the possibility of a bullish trend.