The market has been under intense pressure over the past several days and with daily, weekly, and monthly studies all showing highly overextended, a short-term corrective bounce is to be expected at a minimum. The average daily range in the currency cross is 175 points, and with a high already well in place by 1.2880, a projected low is now seen for today just ahead of 1.2700. Additionally, if triggered, intraday (hourly) studies will also be showing well oversold and in need of a bounce. STRATEGY: BUY @1.2725 FOR AN OPEN OBJECTIVE; STOP 1.2590. RECOMMENDATION TO BE REMOVED IF NOT TRIGGERED BY NY CLOSE.