There is a double bottom
on the hourly chart, and an inverted H&S fractal
all pointing to the 3720 level. The correction in the right shoulder of the H&S fractal
has completed as shown on the 5 min chart above. I am buying market stop < 3630 Target 3720. The move could have a compound effect due to it coming after positive dollar news (negative Euro
news), which means the Euro
is gaining despite the Good retail sales statistics issued today.