As I mentioned in my fiftieth FreeFX video, the July candle opened above the channel top on the monthly chart;
however, since making this video, price has reversed all the way back to the channel line, as you can see here:
Annnnnnd…
…one more stab at that 0.86 level, trying to return toward
a meaningful downtrend below 0.85:
Hello peeps!
Finally, not only did the pair achieve a break of 0.85 but it actually drove all the way to 0.84, in a move spurred by stronger-than-expected selling during the release of positive UK manufacturing PMI data this morning:
Continuation may lack drive toward the back-end of the trading week, but it is looking good to the downside, finally (possibly)!