Currently the price action is sideways, may be waiting for Fed to taper more this wednesday, but Our work is not be too much complacent with what would happen will drive the price for surety, as Eur rate cut was welcomed by market and euro found support around 1.3500 area.
But for me I never try to predict what is going to happen or not. I always look around for the pairs which are trending and the reason they go sideways or trend is paused needs confirmation or even if fundamentals does opposite, they do tend to find support to really again .
And that is why I have put a lot of thoughts in to usd/chf chart which has told me that recent rally from the lows could be a hint of big buyers and support zone is strong around 0.8956 and 0.8910 area but I would expect later to protect any strong downside rally, But we need to trade momentum from the located areas on the chart and I would looking to add more to my recent longs around that area again
Take a look at the usdchf update chart . Are we looking at culmination ?
In this chart there is stair stepping trend, which is followed by moving market accumulation and then pair has found support on similar levels it did before, And pending rally still looking for momentum and this could be a start of culmination which means there could be a start of strong trend and we need to keep look to buy on dips, if and When we are offered any such opportunity.
