Euro Consolidates

[B]Commentary:[/B] We are looking for a larger correction of strength in the near term, but upside potential remains. It looks like a complex correction is unfolding from the 1.3813 high (a-b-c-X-a-b-c, labeled W-X-Y).

The correction is either complete at 1.3756 or will continue lower towards congestion at either 1.3731 or 1.3700. A cautious bullish bias is warranted against 1.3756, since it is possible that the mentioned complex correction ended at 1.3756.

[B]Strategy:[/B] Flat