the steep drop from 1.45 down to 1.315 on the EUR/USD cross might have been a little too steep.  A 50% retracement of that move would take it up to near 1.384.  we are considering a long position in FXE up to the 1.38 target on EUR/USD.  also, there is significant divergence in the stochastic oscillator and price…that is near-term bullish

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