The continued disappointment of the Greek deal is putting pressure on the euro while the yen is rallying on a second stimulus “emergency plan” from Noda who no-doubt sees his days are numbered. Together the euro weakness and yen strength is creating a near-term pullback on the EUR/USD which has just pierced the 23.6% Fibonacci Retracement level. Here’s how I am playing it… A shallow correction like the one I see on the daily EUR/JPY is seldom a reason to trigger a swing buy unless the 23.6% is near-term the 20 period SMA close. In this case the uptrend is not especially established and the distance between current ... (full story)