Keeping an Eye on EURUSD 1.3750

[B]My picks:[/B] stay short EURUSD
[B]Expertise:[/B] Technical
[B]Average Time Frame of Trades:[/B]

There is no change to the bearish outlook. The series of lower highs and lows since 1.4340 may be a series of 1st and 2nd waves. Under this scenario, the decline from 1.4014 a third of a third (powerful) wave decline that would eventually break the October 2008 low. It is also possible that the current decline is wave 4 of a diagonal from 1.2454 (alternate labels). A drop below 1.3747 would enable bears to move risk to 1.4014 and add to the position. The outlook for equities supports USD bulls.