We can not know with 100% certainty whether or not a low is in until the EURUSD rallies substantially, but today’s loong wick certainly has the look of a low. Support should be strong in the 1.2525/60 zone over the next 2 days. Rallying above the upper diagonal line, which is at 1.2849 today and decreases about 20 pips per day, would confirm that a low is in place and that the EURUSD is headed back to 1.33.
