The outlook for completed waves-(1) & (2) on EUR/USD 240-minute chart is still intact, notes Nomura. "If that is the case, wave-(3) down is underway. A clear break of 1.3589 signals weakness as does a move below 1.3557. Resistance is 1.3669/77," Nomura argues. On the daily chart, Nomura thinks that for EUR/USD bullish reversal to firmly materialize, it has yet to see bullish confirmation via a rally through 1.3675. "For now we can view the rally to key resistance as a consolidation that allowed deeply oversold momentum to unwind," Nomura adds. Moving to EUR/JPY, on the 240-minute chart, Nomura thinks that the ... (full story)