EURUSD

Can not help but notice that twitter et al; have sort of gone bullish on this pair. While I have been playing the upside for sometime, this 24 pip range bar study adds to the earlier 12 pip study, in showing that matters are overbought. Of particular interest is the relationship with the price envelope and that contracting diagonal formation, however it is counted, and the momentum study. This is as good a set up to me to expect a thrust down to clear the way for the next move up. That price envelope is centered around a 50 period FLD not the moving average, and therefore provides a range study based on the half cycle after the trending move was made; in short, it is not to be trifled with as a place of resistance. I'll keep fading it short until I can see an 'abc' in the right proportion to the prior action.