Euro to recover some losses before turning bearish again

22 בפבר׳ 2015

Euro is looking a little overextended to me. The bigger picture is still bearish IMO but a healthy retrace is due. The gap at the start of 2015 needs to be closed and the weekly support now turned resistance is in the 1.2040 area.

I am looking to initiate longs in the 1.1340 area for a +-700 pip rally