Despite whipsaws pattern, the pair doesn't seem to evidence upswings
Trend moving in sideways as prices holding stronger at 100.748 levels
Upside potential in the pair capped at 101.500 (upside range in whipsaws and 21EMA), intraday sentiments are still bearish bias.
Downside likely to find support at 100.748 mark, any break below could see the retest of recent lows of 100 and below targets.
US unemployment claims have disappointed the streets by missing forecasts, actual 269K versus forecasts at 265K and previous 266K.
On a broader perspective, major downtrend still remains intact as the price declines in sloping channel.
Long Legged Doji while 7EMA crosses below 21EMA, price dips are in conformity to leading & lagging indicators and massive volumes.
Trade tips: One can eye on tunnel spreads, as a result of above technical reasoning we see tunnel spreads which are binary versions of debit put spreads are best suitable for adding the leverage effects to the profitability when the research is so certain.
Well, this is just for an intraday trading perspective, but in the long run, this is certainly not yet an ideal time for fresh longs.
