3rd day sell-off on Weekly timeframe:- breaking support and trending down.
Market path is to move towards the December lows....
Wednesday's trading was mapped out because price was trading around support, it was either going to swing back upwards, or break...
Thursday isn't any where near support or resistance, it has to move in either direction for the next trade.
Whenever the market breaks a 3-day range, it often moves to the extremes of the next days range. If that is going to happen then it's going to continue down into 1.9889
If it's going to swing upwards, then this is the 'best' Risk zone for any UP swing.
I wouldn't be trading any longs during this week unless it is near dynamic support.
Up swing would be back towards the 5-day 50% level, but the Weekly lows might resist price for the rest of the week...2.0041.
Therefore around this level would be exit zones, and could play resistance for the rest of this week...
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