EURUSD—weak

Euro looks like it's beginning another stair step down which it likes to do in downtrends. It's struggling right now to regain the daily 100 SMA at 1.0257 but it's doubtful this will happen unless the low liquidity results in an extreme move.

In the move down it broke the .382 retracement of the up move from 1.1902, broke below its short-term uptrend line from that low, and in general looks as though it's beginning a third wave down (iii circle). Momentum is also sagging. I'm planning on shorting any rally as long as I'm actively trading when it happens.

Here's the daily chart:



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