As predicted in yesterday’s note, in this expanded M30 CHART, we notice that price broke below the ascending wedge with a large resolute bearish candle and continues to trade below. Still, I expect the downside to prevail given weak French PMI Data, just reported at the top of the hour. My expectation is that German PMI data shall come in below estimates, increasing the reality of a stimulus by the ECB in June and confirming, in no uncertain terms what we already expect to happen.
www.fxtrader360.com
