European PMI’s were good, EUR/USD bounced to 1.1793. Why 1.1793 is because next break point is located today at 1.1798. EUR/USD bounce was actually light in terms of the actual release. Should’ve went higher. What if the same PMI was released and the next break point was 1.1806. EUR/USD would’ve traded higher to 1.1806. A poor PMI then what, 1.1711 is next bottom point. 2 minutes after PMI’s release then PMI becomes a distant memory for today’s trade as it leaves its connection to the price. Only aspect important to a price market is the price and break points and levels to achieve the goal.
What if the next price point and common everyday occurrence is higher is 9.77. Is 9.77 actually 10 or 9. No such concept as a mystery price. Talk about Right church, wrong pew.
On my blog is 9 USD pair ranges posted yesterday afternoon. The vital pairs USD/JPY, USD/CHF and USD/CAD held ranges.
EUR/USD break points 1.1798 and 1.1711.
GBP/USD . 1.2778, 1.2804 and 1.2838.
AUD/USD broke reported 0.7898, watch below 0.7814.
USD/ JPY remains 110.26 break point to travel higher in days ahead. Below 108.83. Nothing new here as this range was reported yesterday afternoon.
EUR/JPY. 129.03 and 129.06 above and 127.93.
GBP/JPY 129.75 and 139.52 Vs 140.05