EURUSD: The first step of yesterday’s outlined scenario, the move upto 1.3678/86, has been taken so now it remains to be seenwhether the second one, the downside turn, will materializeor not. If not then the mid 1.37’s will come into play as beingthe halfway down point (of the latest decline) and the midbody point of May’s falling benchmark candle. A return backbelow 1.3644 will add confidence that the upside correctionhas been completed.
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