No change. The market is very quiet and things remain toppy-looking on the Daily charts. Therefore, we are keeping the strategy the same as yesterday. Only a break of the 61.8% Med term Fib at 1.5788 would allow for further strength, and even then as we are so overbought on the daily charts we would still be looking for a turn in the market.
We would say that if price moves above 1.5735 we can trade to 1.5775/88 before some serious selling pressure is seen. However, while we are below 1.5720 there is more scope to trade lower. We have 1.5630/20 to 1.5606 as a support band and we would cover shorts to here. We would re-sell only a break of 1.5600 and if this is seen we would expect the market to come lower for 1.5555/40 where all shorts should be covered.
Attempt small longs here as by this time we would expect the 60 minute charts to be oversold and there would be a case for buying this weakness looking for a short term rally back to the break point of 1.5600...