Near Term Trend: Bullish / Neutral
Fridays Close: 1.11942 (+ .00492)
UPDATE: Last week, I suggested selling EURUSD at 1.12845 in advance of a move down to 1.10980.
The EURUSD continued to correct lower last week as expected. I expect a bit more downside for the euro before the next up wave is likely to start. Two Fibonacci retracement lines may provide support at 1.1089 or 1.09936.
Cover EURUSD shorts at / near 1.1089 and get long near 1.09936 with a target of 1.1400. Honor stops on any daily close below 1.09936.