• EUR/USD failed to sustain break under the 1.0196 Fibo recently

• 1.0196 Fibo is a 61.8% retrace of the 0.9528 to 1.1276 EBS rise

• That seems like a "bear trap", which is usually bullish

• A bear trap is set when a market breaks below a tech level but then reverses

• There is still a chance of an overshoot to the December 1.0630 peak

• EUR/USD Trader

Weekly Chart

(Martin Miller is a Reuters market analyst. The views expressed are his own)