We were stopped out of our short EUR/USD position from 1.3757 after prices closed above our revised stop-loss at 1.3738, the
Prices are now testing resistance in the 1.3767-72 area, marked by the 100% Fibonacci expansion and a falling trend line set from late October. A break above this boundary targets the 1.38 figure. Alternatively, a reversal below the 76.4% level at 1.3719 eyes the 61.8% Fib at 1.3689. We are waiting on the sidelines for a new short trade signal in line with our fundamental outlook.