Euro May Test 1.4200 Before a Reversal

Commentary: We wrote yesterday that "an ending diagonal may be unfolding in wave 5 from 1.4040. This remains a possibility as long as price is above 1.4061.

One more high may complete the larger advance near 1.4200." The upper diagonal line is close to 1.4200. A rally to there may complete the advance from 1.4041 and possibly a larger rally. A drop below 1.4111 signals a short opportunity against the high.

Strategy: Flat