NFP Spike - What's next?
Updated
We are shorting from 1.166 on the sign of engulfing candle on H1 (also confirmed on H4 and on daily for now). Right now it is in this blue zone which looks like short term (this week's) support on the pair.
Next move is pretty simple. If the support holds, we should have small retracement to the 1.163-1.164 zone, which gives you nice opportunity to entry Short (if you're late to the party), or if the zone breaks we will see drop down to 1.157 area where currently our TP waits.
To stay safe enter short only on break of this short-term support (when you see candle or two closed below the zone).
Note
Hammertime :D Did our support just became resistance? We saw it testing 1.16175-1.1612 few times, but it was rejected nicely. Holding on short.
Note
Both S&R Holding well, let's hope that S will break first and lead us directly in TP :)
Trade closed: target reached
Enjoy the pips :)
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