Lots of stops are seen around 1.3760 but there is also some technical resistance in that region. We have the 76.4% retracement of the drop from 1.3863 to 1.3428.
Also we have a trendline drawn of the 1.4280 high posted back in November of last year at the 1.3765 level.
What’s likely to happen.?A stop run above 1.3770 followed by a pullback below the trendline, in all likelihood…
That’s what markets do. Squeeze out shorts and disappoint bulls. That way, no one’s happy!
