One of the most tamed reaction post FOMC. Lots of 2 way tussle between bulls and bears through the whole of last night with buyers at 1.318ish and sellers at 1.323ish. That pretty much set the range for yesterday.
E$'s inability to push higher last night with price action stagnating around 1.322ish does make it look heavy for now. Upside momentum has waned and this increases the probability of E$ pulling back first before another attempt at 1.3240/50 for 1.3300.
I have mixed signals to the potential depth of this correction. Guess for the aggressive 1.3185/95 to hold and the conservative 1.3130/40.
E$ longs should take money off the table and scale in again based on the 2 levels and target 1.3280/300.
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