So goes the old market ‘wisdom”, that the first move of the week in Asia, especially if its a big one, is always wrong. I’ll go along with it for now, looking to buy a deeper dip in early Europe towards 1.2870 with a target at 1.3020 and a stop below the 200-day MA. I see no reason for us to exit range-trading mode and I like the risk-reward profile.
