Price found resistance shy of the 618 and
fell to the B low where it is currently (07H15 GMT) Failure at this level will have price
rallying towards 5250 over coming sessions. We will wait for a setup to develop
for a long entry. Else if the B low is violated on a closing basis then we will
have a new swing in play.
Follow me on twitter @fxdailyforecast where intraday updates
are tweeted.
Will be going long if:
We get a clear bullish cs formation from current levels or
while inside 5072.
Will be going short if:
We are looking for a retracement up to the 618/786 for a
short trade setup. A sustained break of 5320 negates this view and opens the
upside.
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