June 11th, 2009

EURUSD broad outlook remains bid as the rise from the April 22, 2009 low of 1.2885 remains active with the June 6, 2009 high of 1.4338 as the next objective while ONLY a daily open and close below 1.3783 will complete this wave. For the session ahead, look to buy EURUSD within the 1.4032-1.4088 zone for 1.4338 objective followed by 1.4620.

GBPUSD remains bid with 1.6693 follwed by 1.6750 as the next objectives while ONLY a daily open and close below 1.5796 will complete the rise from the April 22, 2009 low of 1.4396. For the session ahead, look to buy GBPUSD  within the 1.6472-1.6528 zone for 1.6693 objective followed by 1.6750.