EUR/USD has dropped to close under the 1.0807 Fibo, a bearish development

1.0807 Fibo, a 50% retrace of the 1.0517 to 1.1096 (March to April) EBS rise

Fourteen-day momentum is negative, reinforcing the overall bearish bias

The daily cloud, that currently spans 1.0796-1.0875 region, should cap

A daily close back above the cloud would shift the bias back to the upside

We are looking to get short at the 1.0810 level

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