More JPY strength, higher €/scandies

EUR/USD: The minor “up-thrust” didn’t play out as expected, on the contrary an impulsive rise took place pushing the pair through most of the resistances. The move has also forced us to adjust the wave count given the rise above 1.3243. If the move higher since March is to be counted as a reaction, a countertrend, then the market should turn lower from current levels or else something more bullish is in the making.Resistance 1.3306, 1.3319, 1.3340, 1.3379. Support 1.3227, 1.3169, 1.3108, 1.3075.

Read the full report: Technical Alert

 

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