Quote:
Originally Posted by Tess
That's of course if Euro actually managed to haul itself back up to challenge the double top scenario. Option barriers will defend 1.5800 to 5900 strongly into quarter end.
Drilling down into your hourly frame highlights the upside hurdles Euro Bulls face in negotiating their path thru these niggly offer camps.
We;re rejecting the first line hereabouts @ 1.5650, where strong(ish) offers have been building from late last week.
Next channel of 2 way traffic lurks atop between 1.5650 to 1.5700. If they can absorb that activity, then the trip back to 1.5900 is a slam dunk.
The potential bid activity back towards 1.5350-5400 will tell us more about Euro's near term strength, but much of that work will be dictated by the fundamental appetite than the technical dominance.
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amazing how it just broke through those levels like a hot knife through butter.