If our analysis is correct, we should continue seeing the majors rally vs. the dollar and the yen over the next few days. We're looking forward to trading the UK Retail Sales data during the London session and we expect the number to be released better than expected. Yesterday's consolidation may not be complete as the dollar is firming up and trading near the low of the range see over the last 10 hours. With the DOW still trading above 10300, we will look forward to further dollar losses over the next few days. Still keeping an eye on equities as risk aversion may hit on any bad news.

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