The NFP demand zone held today

Yesterday, I said that I had seen distribution and would expect price to fall, with a target to the 1625 - 1630 demand zone.  I also noted that the demand zone from the NFP report on Friday was not a reliable one.

Well I was right on the first count, but wrong on the second.  Price did fall to the demand zone I stated it would.  However, it fell further and reversed at the demand zone that I said would not stop the down move.  It rallied nearly 20 points from there.

I did also say to look for shorts at good supply zones, and we did get a great zone formed on the 5 min chart during the Globex session.  Price fell from there towards the day's low.

So tomorrow, my expectation is for more down move, and hopefully, I will be right this time, in saying that the NFP demand zone will be broken.

Here are some charts: