There is little to trade on the daily chart, since the futures seem bound for a test of last autumn’s thick band of consolidation (which began around 1.2350). The hourly chart is another matter, however, and a dip to 1.2583 should be viewed as an excellent buying opportunity. use an initial stop-loss at 1.2569, switching to a 20-tick trailing stop at 1.2616. _______ UPDATE: The numbers would have worked perfectly for anyone who traded them, since the targets precisely bracketed the morning high and low. After bottoming at 1.2571, two ticks shy of our stop-loss, the futures rallied to 1.2621, triggering the trailing stop (and/or partial-profit taking) by five ticks. They have since traded as high as 1.2638 this morning, yielding a theoretical profit of as much as $550 per contract for a 90-minute hold.