Price left the Weekly Pivot Point behind untraded and turned
lower yesterday, which was the likely scenario, as the USDOLLAR
index is looking higher. Currently price just reached the lower
Daily Kumo Cloud. Since the future, projected cloud is still bullish
this may add support here, but some important targets stand just
below (61,8 Fib of recent swing at 1,0528 and the Monthly S1 at
1.0488.
The daily close will indicate wether we will see a breakout attempt
of the Daily Cloud or if price will close inside it, perhaps after a spike
to complete the above mentioned targets. Either way, shorting at
these levels aren´t recommended. Long scalping on lower timeframe
may be possible after hitting any of the targets. Note that the lower
Kumo Cloud stands a few pips above the Daily S1 1.0545 at 1.0552
lower yesterday, which was the likely scenario, as the USDOLLAR
index is looking higher. Currently price just reached the lower
Daily Kumo Cloud. Since the future, projected cloud is still bullish
this may add support here, but some important targets stand just
below (61,8 Fib of recent swing at 1,0528 and the Monthly S1 at
1.0488.
The daily close will indicate wether we will see a breakout attempt
of the Daily Cloud or if price will close inside it, perhaps after a spike
to complete the above mentioned targets. Either way, shorting at
these levels aren´t recommended. Long scalping on lower timeframe
may be possible after hitting any of the targets. Note that the lower
Kumo Cloud stands a few pips above the Daily S1 1.0545 at 1.0552