The previous day was certainly a supply zone busting day. All but the strongest and freshest supply zone remains. While the latest upswing moved from 1.315 to 1.325, it is clear that the retracement has already in mid-course. With the demand zone pending orders being more than a hundred pips away, the next logical trade is to either some how join the retracement to the upside. I got this sinking feeling that the Euro is due for a retracement on the daily till the 1.362 area.
Meanwhile, the strongest supply zone stands in the 1.33 area, and should produce a move into the demand 1.318 area. From 1.318, it may be a possible long to 1.345 or even 1.362.
Pending Orders
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