Many in the market have been watching the 200-week MA, currently at 1.6008, for a signal that the cable is finally about to move out of it’s range trading mode and make a decision which way to go. We didn’t manage a weekly close above there and even though there’s been a marginal break, I would wait for confirmation (like a daily close above) before getting overly bullish.
Sell orders reported on Friday night around 1.6075.
