Commentary: We have been expecting a reversal at the 100% extension of 1.0886-1.1327-1.1153 at 1.1594. This level was former support as well; and could now be resistance. The high yesterday was at 1.1594 but we have yet to see an impulsive decline; even on the very short term charts. Until then, we will refrain from taking action. Aggressive bears can consider getting bearish against 1.1594.
Strategy: Flat
Al Bawaba
