• Euro exceeds 70 on daily RSI; poised for needed pullback
• Dollar/Yen reverses sharply to almost fully negate Friday’s price action
• Cable gains unrelenting as the market approaches 1.6500; RSI above 80
• Dollar/Swiss setbacks stall just shy of 2009 lows
EUR/USD
| EUR/USD – Could finally be showing signs of a top with the daily RSI crossing above 70 and the market reaching the 78.6% fib retracement off of the major 1.4720-1.2455 move at 1.4235. A daily close near or below 1.4160 would provide added confirmation and we would look to build shorts at current levels in anticipation of a major pullback. Strategy: SELL @1.4145 FOR A 1.3930 OBJECTIVE, STOP 1.4260. |
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USD/JPY
