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Greetings again, Everyone!
After some Data-Point “Digestion” with U.S. PCE and GDP entering with slightly Negative to Mixed Data Points, most Units were simply continuing Trending Behavior nonetheless.
Even at Writing-Time with U.S. Equity Futures Bidding Higher about 10 minutes before the NYSE Open… we can already see some Macro-Accumulation beginning as Profit-Taking and Institutional Re-Positioning begins with the Weekend and the last Full Trading Day of the Month to “Square the Books”, as it were.
The Queen and Her Friend, The Aussie, simply look to Consolidate slightly, but hold onto their solid underlying Bullish Momentum.
In cases like this… Conventional Fibonacci Variants come into View as we observe the Probabilities of where Price may progress as we move forward.
I stay with the Hourly ”Naked” Captures here, so the Fib Clusters are clear.
Give them a Click, as always… and Post-Time is 13:20 GMT.
“The Battle of The Channel” with EUR/GBP moves along as The Queen continues to weaken a bit here on the Euro Correction.
Let us monitor how continued Institutional Activity affects most Units as we move closer to the London Close with Chicago PMI on the way as well…
Our Fib Retracements Areas may come into View… or may simply be “Too Deep” for today’s Accumulating Price Action that is taking place already!
