EUR/USD looks set to drop due to a recent "bull trap"

Spot failed to maintain last week's break above the 1.0563 Fibo

1.0563 Fibo is a 38.2% retrace of the 1.0937 to 1.0332 November (EBS) drop

A "bull trap" is set when a mkt breaks above a tech level but then reverses

14-day momentum remains negative, highlighting the continued downside risk

We remain short at 1.0500 in anticipation for losses to 1.0350

EUR/USD Trader TGM2334. Previous update nL2N3N507U