Tuesday, 12 June 2012

2pm update - crawling higher

Market looking pretty stable now, with underlying hourly momentum cycles likely to go positive cycle early Wednesday morning - which coincides nicely with the retail data. Bulls have a real opportunity to whack this market up tomorrow morning into the high 1330s..or even low 1340s - which brings the 1350s within range for Thursday.


Euro/$, daily

*target is 1.28 for this cycle, before a move to 1.20/19..possibly 1.15/10 by end July.


Not much to add this hour, things seem quieter, and so some kind of low volume melt higher can more easily occur.

More later