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 1.3890 and sloping down. As mentioned last week, I’ll be looking to go short over relatively soon. The longer term trend is still viewed as down since the decline from 1.4723 is an impulse.