- The market is uncomfortable holding EUR/USD longs above 1.40 for very long
- The market is uncomfortable holding EUR/USD shorts below 1.38 for very long
We can try and come up with all sorts of fancy reasons why the market is doing what its doing but it seems to boil down to those two simple facts…
1.3948 is the 61.8% retracement of the Monday/Tuesday decline. More resistance lies at 1.3978.