The EUR/USD confirmed another very weak closing last night after a test of the 1,3610 area that hold for now. The move up we are seeing is however corrective and a selling opportunity especially in case of a return toward the 200 hours line, now at 1,3936.
The indicators of the daily chart are still positive but those of the s/t ones are at the moment showing a mixed picture. In the hourly chart the rebound is already showing potential negative reversals suggesting limited upside potential.
Only an hourly closing above 1,3765 will postpone further weakness favouring a 1,38 overshooting. We suggest waiting for higher levels to sell for a retest of yesterday’s low!!
The target of the decline should be the 1,3550 area
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FUTURE TREND RESEARCH