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Wait for a push through 1.58 next week. We come close to the EURUSD bullish capability in the techs today as well near term USDJPY possibilities.
It might be possible to focus on bullish potentials since the EURUSD has broken through 1.5586 and confirmed our bullish bias. The advance from 1.5283 is maybe either the beginning of a 5 wave bull cycle or a B wave of a flat or triangle. The EURUSD is most likely to exceed 1.5843. Near term resistance is at 1.5650 (6/10 high). Risk can be moved to 1.5464.
STRATEGY: Bullish, against 1.5464, target above 1.5843
03:42
Posted on Jun-23-2008
