Market Update : Stocks are opening higher and the dollar is weaker across the board. However, most pairs have seen only a fraction of the excitement in EUR/USD and GBP/USD. The EUR/USD just hit a new high on the day, but volume is not very supportive of a continuation. There are clearly a good deal of sellers still fighting. Another reversal is not out of the question, but we want to see at least a 5- or 15-min candle close that confirms this. Unfortunately, waiting for an hourly close may cause us to miss then entire move.
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