The Cat Eye's a Retrace ? 😾 Or Dump City
Updated
Often times I can observe a retrace with London Session. Just as price did yesterday. My thoughts are a potential retrace to 1.09149 4Hr reiestance zone and some consolidation before another bout of Sell Side pressure. Price made leaps and bounds of progress to the downside during the last 2 sessions. I do not think the market is random. Nor am I trying to call a bottom. I am simply analyzing the behavior of this market as I have observed it for quite some time. Price is in close proximity to a Daily Support Level 1.08915 (6 pips away )
We have News tomorrow during NY session which I believe can be a catalyst to pullback a bit more before Inflation data during Friday NY may help provide a continuation of the preceding 1hr trend at that point.
Towards the beginning of the week we were calling out a retrace to 1.0847. Idea was to do a Weekly Wick Fill as price was thought to have bearish momentum coming out of last week after a Bearish candle was printed ( With a larger top wick when compared to the body of the candle) We may see this scenario play out and we would like to see a break and retest after prices closes below 1.08820 on either the 1hr/4hr. Otherwise I observe a pullback for the time being.
We have News tomorrow during NY session which I believe can be a catalyst to pullback a bit more before Inflation data during Friday NY may help provide a continuation of the preceding 1hr trend at that point.
Towards the beginning of the week we were calling out a retrace to 1.0847. Idea was to do a Weekly Wick Fill as price was thought to have bearish momentum coming out of last week after a Bearish candle was printed ( With a larger top wick when compared to the body of the candle) We may see this scenario play out and we would like to see a break and retest after prices closes below 1.08820 on either the 1hr/4hr. Otherwise I observe a pullback for the time being.
Note
Price went up very nicely and retraced at london. We have had very good USD news released. Price has broken below 1.0882 4Hr Support Zone. The 4hr candle just closed below here which is a strong indication that we will fill the range to 1.0847 4hr support zone. right now were can observe a retest of 1.0882 
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