Notice the green dashed line.. provide a line of resistance and eagerness to huge the line.. A series of higher lows and lower lows have created quite a bit of pressure over 1200 and specifically the 1204 area where we could break down into 1200 very quick if it fails.
You can see the volume increasing each day this week as selling has accelerated during cash session. Below 1200 1290 is a level which could be come a pivotal area. Refer back to my previous note for more specifics on the currency markets.
IF the support holds around 1200 a reversal and buy stop area would be over 1210 in my opinion.. a break to the upside through hypotenuse of the descending triangle usually gets the bots excited.
Currency markets are quiet and near their cash close levels.. same with crude.. feels heavy under 95 …