The EUR/USD has been choppy but mainly kept a bullish bias since rallying from the July 24 low just above 1.2040. Since last week however, the market put in a lower high and is heading south during the 8/15 session toward the rising trendline seen in the 4H chart. This will be the test of the 8/15 US session. The rising trendline resides at about 1.2250 against the current drop, but clearing the 1.2240 pivot will really start to establish a bearish outlook, at least in the near-term since it shows ability to make a lower low. Breakoutscenario: The near-term target for this break is is the 1.2185 swing projection to ... (full story)