again.White line mark the neck of an Inveresed pattern that may
be forming. The pattern will be triggered once the neckline is breached on a closing
Currently price is pulling back, gravitating to the daily and below .
Chances are good that, if price will reach the Weekly PP at 1.0631, we will see a bounce
and continuation upwards toward the neckline at approximately 1.08.
However, we might also see a test and bounce off the upper Kumo Cloud/Daily PP at
1.0650-55 area. Buying a pullback is the best strategy currently in my opinion.
Only a daily close below the Weekly will put in question the bias
at this point. The general backdrop is to see the USDOLLAR index pull back and test
its Monthly PP .
Previously I pointed out an , but price has erased it after reaching the
61.8 FIB of the CD leg and then breaching the B point.
With FOMC on wednesday, PA might become muted up to that point.