(1,5135) The CABLE confirmed a closing above the top of the previous session but just a few pips above the opening despite a test of the 1,52 area. Overall the pair remained therefore interior the inside day with 1,5200 – 1,4975 still the levels to follow in the coming hours; only a daily closing above 1,5200 will support further strength, move that we still see as a correction. The indicators of the daily chart are still well negative while those of the s/t ones are mixed suggesting further consolidation/ correction. While above 1,5090 on an hourly closing we could well see a retest of the 1,52 area; a break above 1,52 confirmed by a few hourly closing will support a larger correction suggesting even a return toward the 1,55 area!! A move below 1,5090 could resume the decline suggesting a s/t target at 1,4839. We stay on the sideline for now while waiting for stronger signals.
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