Euro Technical Outlook

The bearish count remains valid against 1.4140 but failure to trade lower last week seriously dampens bearish confidence. The ending diagonal count looks more probable at this point. A drop below 1.3983 is possible near term in order to complete a small correction from 1.4118 and the bullish count is valid against 1.3888. Until a break of one of the mentioned levels, the EURUSD is in a state of limbo.