extension. at
1.0704 low nearest to the Trend-line support drawn from the lowest 1.0027 last 3.30 is significant. While today's price level at 1.0793 as of 5.17 is considered to be the 1st Pullback signal for the day. On the tech angle, a higher bottom is part of the complex IHS expanded formation before reaching its time cycle fig. 2 from previous chart. Currently, we are just waiting on USD direction from the upcoming CPI due during the week & the FOMC in June.
While the market is building its
"Momentum & Volume" it would validate initial price reversal heading towards a recovery. Do not discount daily session price swings in both direction, while investors waits on the up coming event risk for the following trading weeks.ahead
Follow sequence of twitter trade signals from 4.26.16 to have a better footing on the continuing analysis
https://twitter.com/MegaTrade101/status/732447741448728576
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