EURUSD: It certainly looks like that the (for some time) sought upwardcorrection now finally is getting traction. An hourly inversehead and shoulders pattern was yesterday exited breakingabove the 1.2699 resistance. The minimum target for thebottom formation, 1.2760, has thereafter been reached butmore topside potential lurking with 1.2865/70 being thetheoretical h&s target (and at 1.2880 we also find Sept’s midbody point). Reactions should be limited to 1.2719 – 2695.
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