Here is the thought process and the theory behind this EURUSD Monday-gap analysis – Supply, Demand, Price and Speculation.
Did the market close the opening gap through the course of Monday or the week. I would say no, the market maintained the gap through the course of Monday and the whole week. Orders were processed regardless of the opening price in a structured manner.
Seems like it was a predetermined and measured movement. The length of the initial bullish movement would have ended exactly at the upper boundary of the channel and the retracemant would have met with support resistance lines marked in red; only if the market did not have a starting gap.
Is this coincidence or its the usual behavior when the market has opening gaps?