The cable pair went back and forth during the session on Wednesday, printing a neutral candle. The fact that we had a fairly wide range for the session and couldn’t really decide anything suggests to us that perhaps the market is running out of momentum to the downside. If that’s the case, we feel that this market is ready to go higher, on a break of the top of the range for the Wednesday session. We still believe that the market is heading to the 1.70 level given enough time, so we are perfectly comfortable buying on that signal.
