The bleeding stops - orders
A dead cat bounce in EUR/USD is underway. The pair plunged to as low as 1.0906 from three week high of 1.1052 but has finally bounced up to 1.0944 as US dollar gains ebb.
There is demand reported ahead of the big figure and more extending to 1.0880. Look for technical sellers near 1.0950.
From a technical perspective the fall in EUR/USD wasn't as dire as it might appear; at least not yet. That would change if Tuesday's low of 1.0891 gives way on a closing basis because it would splash a bearish engulfing candle on the chart.
