The cross has come under some heavy pressure over the past several days with the daily RSI now approaching oversold levels. The market is also approaching a test of the key 50 percent fib retrace off of the major October 2009-April 2010 move and we like the idea of looking to pick some up on a dip below 1.2600 on Tuesday. STRATEGY: BUY @1.2595 FOR AN OPEN OBJECTIVE; STOP 1.2495. RECOMMENDATION TO BE REMOVED IF NOT TRIGGERED BY NY CLOSE (5PM ET) ON TUESDAY.
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