EURUSD: After yesterday’s decline (and close below 1.3586) it is clearthat last Thursday’s spring bottom was unable to attractbuyers enough to sustain the move to 1.3734/50. The recentdevelopment on the contrary speaks of a fresh cycle low andprobably so in the 1.3445/1.3477 area. A new upsidecorrection attempt is seen following given the risk of a bulldivergence below 1.3503 and the fact that we are relativelystretched (outside the 55d Bollinger bands).
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