Still looking for a stronger yen. NOK/SEK a 1.0720 sell?

EUR/USD: Friday’s move higher became both bigger and moreimpulsive than what we had in mind. On the other hand as aresult of the latest climb a five wave pattern up from early Feb is about to be completed. As long as 1.3728 remains assupport there is probably one more high lurking (tocomplete an hourly five wave pattern up from the Feb 27low). We also note that we also spiked outside the 55dBollinger band, just like at the Dec top.

Read the full report: Technical Alert

 

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