[B]Commentary:[/B] The possibility remains that an inverse head and shoulders pattern has been unfolding since May 2006. The short term pattern remain unclear but the rally from 1.1960 ended at the 38.2% of 1.2468-1.1960 at 1.2154 last Wednesday. Without any signs of an impulsive rally, we?ll continue to look for a break below 1.1960 and potentially 1.1877. [B]Strategy:[/B] Bearish against 1.2165, target below 1.1877 (full story)