It appears the swissy gapped down open of the new secession and has went throughÃ‚Â support at 103.76 down to 103.40 area, I was down 50 pips, but my target has’nt changed so the risk to reward is still good.
I looked at the daily to see what price could be targeting as a newÃ‚Â support area andÃ‚Â I found a FE right where price now is seemingly finding support, I have included a chart of the daily and marked my fib high low areas to show where I came up with a FE 100.00 for support, the upside target is still 1.0620 nice 200 pips or so. look for a smaller time frame pullback as it should do an abc from here.
The way price has been moving it’s anyones guess if that will happen but I am in, down 23 pips at the moment. If this level holds as i beleive it will, 106.20 will be a 38.2 pullback area, if you do Fib Projection from the low where price has found support currently and drag it up to our target of 106.20 it will project a 261.8 confluence with the FE 161.8 which is @ .9776 area, while it is to early to tell that far out it would be consistant with 1.5800 I am seeing on the euro.
Look for a pullback on the swissy of 78.6-100.0 area from 1.0405 before seeking target of 106.20ishÃ‚Â if you missed the 1st entry, best of luck!!