The pair is trading @ 1.4079; yesterday it went down from 1.4194 to 1.4006; today is the unemployment day: follow it's release in Germany and US; after yesterday drop for the pair, I was expecting confirmations, but the OI in primis was down...I am still trying to understand why; anyway it could mean that if there is no more space on the upside after 1.4300, well there is less space on the down side after 1.4000. In the 4H chart I see the pair returning into the lower bollinger band, but still far away from EMA and middle BB, to confirm a possible return to 1.4300 we need this pair to go up to 1.4180 first;RSI is @ 38; the stochastic is for the upside; I probably will stay out of the market untill data are published;
here are some support and resistance:
R3 1.4469; R2 1.4281; R1 1.4180; S1 1.3992; S2 1.3905; S3 1.3717;
No trading plan right now;
I have closed yesterday my two short positions;
I am scared of this fallen open interest, I was expecting the opposite;
I will follow the German unemployment data and I will act;
have a good trading day
:D
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