Despite the extreme readings and bad news coming from Euro zone countries, Portugal, Ireland and Spain, still no decent retrace. The market can stay irrational for much longer than we can imagine. Yesterday we intended to join the bulls at 3530-10 but the orders were not filled: the pair only rebounded to 3560 before pushing back up strongly. Above 3690, next targets are 3760 & 90, followed by 3817 March high. Under 3580 we could see a quick drop to 3560. Pair is bullish as long as above this level. Loss of 3560 will open 3525, 3500. Under this last, look for 3470, 3430.
SHORT @ 3550, SL 3570, TP1 3525, TP2 3500, TP3 3470, TP4 3430.
LONG @ 3710, SL 3690, TP1 3750, TP2 3780.
SHORT @ 3550, SL 3570, TP1 3525, TP2 3500, TP3 3470, TP4 3430.
LONG @ 3710, SL 3690, TP1 3750, TP2 3780.
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