Market Update : Early European trading has been quiet thus far, following some dollar weakness in Asia. This could be a sign that dollar selling is exhausted in pairs like GBP/USD and EUR/USD. The USD/JPY is again playing into the lower channel line of the flag pattern we identified last week; seen clearly on the 180-min chart. The pair has also now completed a 61.8% Fibonacci Retracement. Analysis of the pattern from last week is available in the Members Area. We are evaluating a possible entry this morning.
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