The EUR/USD rally strongly higher towards 1.2400 (with a high at 1.2391) as the U.S. Dollar Index sunk to 82.36 after Thursday 83.61 high. The dollar weakness has presented an opportunity for euro bears: Short into today’s strength as it corrects what has been an overall downtrend in the pair. The short entry is built on the back of the daily chart which reflects the dominant bearish Directional Bias of the pair and this downtrend can be defined by the “four to six o’clock” 34EMA Wave as well as the red GRaB candles that had dominated the downtrend. Two things keep me from looking to get long on the daily chart and ... (full story)