The diagonal has been fully retraced (began at 1.3333) and then some. In fact, the EURUSD has exceeded the 50% retracement of the decline from 1.4723 and is closing in on the 61.8% at 1.3811. The 200 day SMA is at 1.3907 and sloping down. As mentioned yesterday, I’ll be looking to go short over the next several weeks. The longer term trend is still viewed as down since the decline from 1.4723 is an impulse.