The Dec'09 EUROFX is working higher but losing technical indicator support. 14897 is the Inflection Pivot or the price point that defines the session bias. Above here any pull-back is a buying opportunity expecting a charge to new move highs targeting the 15059-15088 resistance band. Be patient. If the rally is going to fizzle it will within this zone. Jump on any REVERSAL signal expecting a sharp exhaustive reaction. 15209 is he current extreme.
A slip under 14951 sets up a test of the 14897 support Inflection Pivot. If the underlying positive tone is going to hold so will this support. A failure here and the currency slips back into a digestive trade down to 14822 and 14796 on any short term sentiment shift. Be patient. If this is just a bunch of mind games that contract will maintain its composure. A break under 14758 confirms a negative turn forecasting a decline down to 14565 and 14514. Expect no follow through.
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