• This market could be about to relapse. We are now short at 1.0890

• EUR/USD recent huge gains broke above the 1.0798 Fibo

• 1.0798 Fibo, is a 61.8% retrace of 1.1214-1.0125 (Sept-Feb) EBS drop

• Continued trading above the 1.0798 Fibo has been a bullish sign

• However, this last week spot faltered ahead of 1.0957 Fibo

• 1.0957 Fibo is a 76.4% retrace of the same 1.1214 to 1.0125 fall

• EUR/USD Trader . Previous update

Werkly Chart:

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