EURUSD Support for Friday

The EURUSD has made lower lows the last 2 days but the trend does remain up against 1.4000. Expect weakness near term, but support should be strong near 1.4200. This is the low end of a former 4th wave extreme and is defended by the 50% retracement of the rally from 1.4000 (1.4230).

That’s good news for me as I’m betting on the USD here. I’ll settle for a retrace there and run off giggling like a little girl with all the pips I gain from this retrace.