EUR/USD's failure in April under the 1.0611 Fibo led to a recovery moves

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

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

However, 14-day momentum is on course to turn positive at Thursday's close

We are short at 1.0725 for a slump to our 1.0525 target

EUR/USD Trader TGM2334. Previous update nL1N3H40BB