Broad yen weakness. Renewed em weakness.

EUR/USD: There’s now a possible completed wave 3 in place given that we’ve having reached (and for a short while violated) the minimum target, 1.3162 (however not managing to meet the ideal hourly triangle target at 1.3119). As the new low was accompanied by rising hourly momentum indicators a bull divergence has been created which indicates that the pendulum is swinging in favor of an upside reaction, probably 1.3237-55.

Read the full report: Technical Alert



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