Tuesday’s expectation that price would come back down and re-test the 3-day high breakout before deciding whether it will resume any UP move.
This sell-down occurred from the upper channel and 90 point spiral top, and now Wednesday has come down into the 5-day 50% level and 90 pip spiral bottom.
A bullish weekly trend will continue upwards, moving back above the weekly 50% level and heading back towards the channel highs again. (90 pips up)
A weaker market will break the 5-day 50% level, and continue down following the overall higher timeframe 50% level trends.
It is obvious the %rates are pushing the currency around.
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