Plan - Thursday
Overnight
If you missed yesterday's review it's here.
Range so far: 2162.75-2170.25
After the European open the market popped just above yesterday's poor high and swiftly rejected any breakout. The move lower has stopped so far 1 tick above Monday's rth high and is still above the value area of the current range. Volume is light.
On the news front, the BoJ's Kuroda has said there is no need for 'helicopter' cash, and the
ECB held rates and asset purchases unchanged. Draghi's Q&A is on now. Here is today's economic calendar.
Plan
Bias still remains to the upside while prices hold above the current range value area with the longer time frame in an uptrend. Short term resistance is at 66.75-67.75.
Acceptance back within value could see a more neutral/rotational day and below 2151.25 we could see liquidation by longs, however, with the LTF bullish I would expect to see buying interest at the support levels below there.