• Thick daily cloud resistance, that currently spans the 1.0384-1.0581 region

• That should continue to limit near-term recovery attempts

• 14-day momentum turned negative last week, highlighting the negative outlook

• We are short at 1.0400 for eventual losses to our 1.0150 target

• Meanwhile our stop is currently at 1.0500, above key resistance levels

• EUR/USD Trader . Previous update

Daily Chart:

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