[Dow Jones] Westpac FX strategy report says it remains to be seen how sustainable EUR/USD rally will be. Notes some support derived from speculative market which has been unusually short EUR over recent weeks. Notes IMM speculative accounts held fresh record net short EUR positions as at May 4, in data released late Friday. Says riskier assets have so far rallied strongly in early Asia trading, approval process of expected EU stability fund will be crucial to trading in Asian session. Says likely EU will do enough to support EUR/USD, at least for few sessions and pair can extend gains to 1.30-1.31. But as U.S. jobs data show, growth pulse is far stronger in U.S., so EUR/USD still a sell on rallies. EUR/USD now 1.2879.
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Getting it right is NOT as important as not getting it wrong.
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those who can, do. those who cant, talk about those who can
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"The Side that Knows When to Fight and When Not to, Will Take the Victory"
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those who can, do. those who cant, talk about those who can
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Wyckoff VSA: (1) Supply & Demand (2) Effort vs. Result (3) Cause & Effect
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"The Side that Knows When to Fight and When Not to, Will Take the Victory"