EUR/USD dropped from 1.4345 on Friday to 1.3968 on Monday. Since then, we’ve retraced about 38.2% of that drop and are now consolidating.
Stops are seen from short-term specs above the 1.4120 area near-term.
The market is contending with a serious two-speed Europe today. Germany continues to grow solidly while austerity and debt continue to cripple Greece, Ireland and Portugal.
