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Greetings Everyone for another Update!
Most of the Majors, do indeed, roll on… as we did meet… or continue to look for… a few Retracements areas within the last 9 hours since our previous Post.
We begin to see “normal” IntraDay Formations in this climate, as we pullback and correct with Fractal Price Behavior…. though overall… we still are in “Consolidation Mode” with most Units.
Here are the Hourly Views of Fiber and Cable, which have benefited nicely from the FOMC Rhetoric yesterday… so give them a Click… and Post-Time is 12:15 GMT.
EUR/USD continues north with a “Cluster” of the Hourly Fib Extension at 423.6% @1.3838 and the Daily 61.8% @ 1.3854 should “cap” this move and act as strong Resistance moving forward.
GBP/USD remains deeply stout on the Hourly View… and we did meet our Elipsed Retracements Area. The 127.0% Fib Extension is functioning well as of this writing as “Dynamic” Resistance.
Bullish Views will be mindful of the 1.4480’s/1.4500 Handle Areas here for major “Static” Resistance… and Bearish Views may enjoy this Area for corrections as well.
We will see if any corrections do, indeed, take place with our next Update, as we move into the U.S. Session… although with the NYSE Open and Futures looking a bit stout… we may simply see Continuation of what we have now.
