A bear gap Monday (currently 1.1042-1.1129) through 1.1048 to signal a shift to a broader range environment.
This also signal a very indecisive tone into Monday.
For Today: We see a neutral tone between 1.0951 and 1.1042 (with a negative bias)
- Break below 1.0951 aims for 1.0912, maybe 1.0819, which we would look to try to hold.
- Break above 1.1042 aims for 1.1129, which we would look to try to cap.
Short/ Intermediate-term Range Parameters: We see the range defined by 1.1436 and 1.0819.
Range Breakout Challenge
- Upside: Above 1.1436 aims higher for 1.1467, 1.1534 and 1.1680.
- Downside: Below 1.0819 sees risk lower for 1.0658, 1.0520 and 1.0459.
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