Using either the KTTN or MMTS systems to trade the aftermath of news yesterday would have been the prudent thing to do, as the 8:30 am ET swing point coughed up a nice run into today. Even if you missed that trade, we had a nice channel breakout today, as the Asian session finale and the opening of the London/Tokyo sessions collided. This was evidenced, not only by the breakout on the 15 minute chart, but also by observing the relationship of stochastics on the hourly chart to the behavior of the 10 and 80 EMAs on the 5 minute chart (read, the ‘Jeff Hughes trade’). Yesterday’s ‘news trade’ was further facilitated by a classic inverted head and shoulders pattern, which also foretold the rise in price into today’s session. Any way you slice and dice it, the trend at all chart levels for the euro is UP!