A long weekend has allowed troupes to gain positions for the ensuring battle. Will this advance scare the shorts into covering, or will the Bulls feel fortunate to recapture recent losses?
The above count would indicate a possible bullish open before the Bears take control. As of this post there are fourteen hours before the bell. This week should be very interesting.
The Bears must first secure 990 then begin the march on toward 970, and on to (950,-940) and finally 869!
If this battle is lost to the Bulls, and 1053 is breached, 1070 is likely to be the next front.
Divergence in Stochastics, MACD and Volume indicate a trend change.
Bullish percent is still ridiculously high, but coming down.
Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.