My overall bearishness regarding the euro has not changed and despite today’s U.S. dollar weakness and euro strength, I am a bear based upon the Directional Bias of the daily time frame. Yes, the intraday charts have enjoyed a nice run and yes, I have been a short-term buyer with this momo (which is counter-trend) but the rally has finally brought the pair to the resistance area – my swing short zone – between the 20 period SMA close and the 34 period EMA low. (full story)