After the market stalled at 1.3100, which was the 50% retracement of the 1.2455/1.3745 move, the outlook is now looking cautiously bullish. Failure to consistently close below the 100-day MA will also have the bears feeling a bit nervous. I like the idea of buying dips with tight stops below Fridays’ low, looking for a move back to the 200-day at 1.3705.
