Despite the fact that most major FX markets were closed yesterday, E$ unfolded almost exactly as forecast ie. retested the low and printed 1.3033 before rallying to touch 1.3133 high.
For today, I expect further consolidation with choppy price action but still maintaining an upside bias. If you are hoping for a few hundred pips range to trade today, I suggest you go play 36 holes. Range will be tight and is not going to be very exciting and I will just trade from the defined boundaries.
1.3055/65 to hold and 1.3140/50 to cap (1.3200/20 news induced).
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