The low from Friday was 1.3934 and we are only 15 pips above there presently. With a 5 wave up-move from 1.2870 to 1.4340 now complete, it’s certainly possible that a short-term top is in place and that we are in retracement mode. The 38.2% of that up-move is at 1.3780. (Technicals to come).
Dead cat bounce on the EUR/USD
Source: www.forexlive.com
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