Using a stop-loss as tight as five ticks, currency traders can play off the 1.2265 target of the pattern shown. Because it does not closely coincide with any structural supports, it yields enticing odds.  The bigger picture, evident on all intraday charts, has been bullish since last Wednesday, when the futures spiked a March structural resistance at 1.2398. _______ UPDATE (10:41 a.m. EDT):  The futures never quite made it down to the target, although the sideways move of the last week doesn’t look to have fully corrected the rally begun from 1.2074 on April 27. If the futures should pop nonetheless, crucial resistance lies at exactly 1.2543, the midpoint resistance associated with a ‘D’ target at 1.2791 (A=1.2074, 240-minute chart).