FXstreet.com (Barcelona) - The Euro rebounded today to recover most of Friday's losses, reaching 1.5945 so far. The ActionForex Technical Team observes the possibility of further climbing; The development so far argues that 1.5983 is not the top yet. Nevertheless, the overall outlook remains unchanged. That is, price actions from 1.5342 is unfolding as a diagonal triangle which will conclude a larger five wave rally. However, the ActionForex Team adverts about the possibility of another steep decline: While the current rise from 1.5710 could edge above 1.5983, short-lived and another steep fall should be around the corner. Below 1.5710 support will suggest that the diagonal triangle has already completed and will bring deeper decline towards 1.5342 cluster support first (38.2% retracement of 1.4309 to 1.5983 at 1.5344).
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