Fri’s rally fm 122.90 to 125.65 today confirms correction fm Feb’s 34-month peak at 127.71 has made a low there n intra-day firmness suggests upside bias remains for gain twd 125.95, near term o/bot condition shud cap price at 126.53/58 today.
Buy on dips for 125.90 n only below 124.50/55 wud risk stronger retracement to 124.00/10 later.
As euro has continued to edged higher after breach of y’day’s top at 128.78, suggesting consolidation with upside bias is seen for gain to 129.74, breal wud extend upmove fm 125.00 (Mon) marginally, o/bot condition wud keep price well below 130.57.
Raise long entry with stop as indicated, below wud prolong choppy trading n risk 128.08.
