Earlier in the week, I suggested the move from the 80day to the 40day FLD, whilst sequential, had left the 10day FLD lurking at the bottom of the chart. I could not say whether price would meander over or take a more direct route to reach back and it looks like it did a bit of both. Regardless, the price pull back to the 61.8% retracement of the move off 1.3506, has pretty much made it back to the 10day FLD, and if it now moves back up through the 20day and 5day FLDs immediately above, then the 40day FLD at 1.3745 maybe vulnerable. Ac such, the 1.3818 target at the top of the 80day price envelope looks in reach!
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