Stops above 84.00 were triggered on Friday but momentum is still lacking for this pair. Corporate sell orders were reported on Friday starting at 84.20. Retail sales figures are due out this morning but they won’t move the market.
Technically speaking, the close above the Ichimoku cloud is a bullish event but the failure to break above the 100-day MA dampens expectations.
I expect another day of fairly tight trading ranges with a mildly bullish bias still in place.
