.EUR/USD drop it like it hot today, breaking out of the range formation that was obvious at the 4hrs time frame as discussed yesterday.The large pin formed cum fakey setup has kicked start this volatility.Its noteworthy to mention that any time a price action setup like this start a momentum,there is higher probability of continuity.We are looking for a retrace around 1.3124 zone to join the bearish momentum.
GBP/USD blazed past the support zone around 1.6177 zone, after a strong bearish pressure.We are unable to get 50% retrace of the pin, but after the break of the low of the pin we expect the price to drop.Given the nature of the false break setup we expect lower price in due course.We keep our eyes open for intra day retrace around 1.6177 resistance zone.
EUR/AUD continue its bearish momentum after breaking pass the horizontal support zone 1.2543.
We are looking for an intra day bearish setup around this zone to continue with the bearish momentum.
We are looking for an intra day bearish setup around this zone to continue with the bearish momentum.
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