One goal was accomplished: Dealers were able to push EUR/USD down enough to harvest the stops in the 1.3970/75 area. Now we need a close below the 1.38875 area to signal that a correction is finally underway.
Levels to watch on the downside include Friday’s 1.3835 low and the 10-day moving average at 1.3783.
1.3915/20 is resistance on rebounds this afternoon.
