Based on my latest weekly analysis I was expecting a tightening range, it may just be doing that now...
The NFP did the job to complete a wave 5 (textbook structure, gambled it and won!) but we were unable to break above 1.1245, which to me is now resistance on this scale... Below we have the 1.1125 level which is support... This is what we call a range..., could be going up and down for some time now, need a break above or below to give direction...
Also mind the blue 'down' trendline (see higher TF's) for possible support...
See below linked ideas for more info.
The NFP did the job to complete a wave 5 (textbook structure, gambled it and won!) but we were unable to break above 1.1245, which to me is now resistance on this scale... Below we have the 1.1125 level which is support... This is what we call a range..., could be going up and down for some time now, need a break above or below to give direction...
Also mind the blue 'down' trendline (see higher TF's) for possible support...
See below linked ideas for more info.
