The pair moved down to touch the 50 Fib at .8132 to start the week before breaking higher. Only to fall back on Friday to the descending trend line that was once resistance at .8148. All in all, this is a long way of saying the pair range traded last week. The question now is if this will continue? Until a catalyst pops up such as a stock market correction,presidential election results, or more than likely something unforeseen the range could remain in place.
Heading into next week a break of the descending TL at .8140 opens the pair up for another test of the sup zone between .8132/.8110. A bounce at the TL could open the cross up to another run at the .8235 level.
Keane Plan....Watching the descending TL at .8140 for a break or hold.
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