EUR/USD's failure earlier in April under 1.0611 Fibo led to a rebound

1.0611 Fibo is a 76.4% retrace of the 1.0448-1.1139 (Oct-Dec) EBS rise

Despite that failure, negative 14-day momentum highlights a bearish market

The negative alignment of the tenkan and kijun lines also points to a drop

We are short at 1.0725 in anticipation of a slump to our 1.0525 target

EUR/USD Trader TGM2334. Previous update nL1N3H20HM

Speculators pile into the dollar for two major reasons nL1N3H10IN