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EURUSD – Trapped Within Small Range
After clearing above the key 1.3450 level post FOMC announcement two weeks ago, the pair has literally trotted in place, stuck mostly within a 100 pip range since, spending the bulk of that time hovering around 1.3500. With the Italian & Greek issues going on in the EZ, I prefer the bearish side more to start this week. So look to sell intraday price action rallies towards 1.3550, targeting 1.3475 and 1.3400.
GBPJPY – Bullish, But Losing Strength
After breaking and holding above 156.65, the pair broke the prior SH (swing high) at 158.50 touching 160 briefly. But it then formed a pullback, and last week a likely LH (lower high) suggesting at best …