It’s not very often we get a ten-handle drop in EUR/USD in two weeks and it is beginning to look like the easy money has been made and the long, hard job of trading the consolidation has begun.
Near-term. resistance from a weak hourly trendline comes in around 1.3755, falling about 5 pips an hour. A break above that downtrend will be an indication that the impulsive nature of the slide is behind us an a retracement may be at hand.
