EUR/USD on Wednesday broke and marginally closed above the 1.0563 Fibo

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

However, it failed to register a second close above 1.0563 Fibo, Thursday

That failure is a possible "bull trap", which is usually a bearish sign

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 with expectations of a bearish resumption

EUR/USD Trader TGM2334. Previous update nL2N3MZ0AB