Update: We edged a little higher yesterday, most of the move happening in the Asian session. This means we were not able to get hold of the trade. In any event, we’ll be patient and wait for the second chance this week, as/when the euro dips back down to support levels below. We are a long way from the nearest moving averages and Fibonacci lines, so it will be a little wait before we get a chance. Key supports lie at 1.2500/470 and 1.2400.
Watch and wait for a G7 entry signal before buying for a rally back to 1.2600.
Summary: Patiently wait for dips down to support levels before buying the euro after a clear G7 entry signal.Target 1.2600.