That might be it for the NY session…
As Sean would say, looks like a good day to rearrange the sock drawer.
For EUR bears, the best hope is that we stall around present levels, which equates to the 76.4% retracement of the drop from near 1.4500. If we hold above the 1.4400 area, a rebound toward 1.4500 is what the entrails portend.
Mostly short-covering the last two days with traders who are “short in the hole” now looking to take their losses.
