The WCT surged to 1.39 in the early session but was quickly knocked down, now it is stuck around 1.32 without moving.
It looks like a bullish trend, with the yellow line EMA7 closely following the purple line EMA30 upwards, but there is too much pressure above 1.39. The long upper shadow in the early session says it all. The most annoying part is the low trading volume, with only over a thousand in VOL, far from the average of MA5. There’s no chance to break through without volume. The green bars are short but haven't crossed into a golden cross yet; this market is really tedious.
The order book is more straightforward, with the sell order at 1.3212 holding 1.4 million, while the buy order at 1.3211 has only 1.2 million. The bulls and bears are competing at this one cent. I see today’s key level is 1.33. If the volume doesn’t increase in the afternoon, the bears will definitely hammer down to test 1.30.
For those holding positions, keep an eye on the volume; if it breaks 1.33 with increased volume, follow it, but if it drops below 1.30, run.
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