Monitor the Yen. Sell cable and NOK.

EUR/USD: The, so far non sustained, break above 1.3700 indicates thatthe entire decline from 1.3894 might have been just a threewave downside correction hence suggesting that a newtrend high will be set in a not to distance future. Short termthere might however be some further 1.3620/1.3663 –1.3740 consolidation to digest Thursdays rising benchmarkcandle.

Read the full report: Technical Alert

 

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