Failed Rally: The EUR/USD broke out of a flag pattern yesterday (10/22), only to be held under the noted pivot in the 1.3080-1.3085 area. After the rejection there the market held until the 10/23 Asian session before falling. As we gear up for the 10/23 US session, EUR/USD is knocking at 1.30 handle. You can see that the 1.2990 area served as a resistance and support pivot in October. A break below this opens up some bearish outlook in the very short-term. A hold above 1.2990 with the RSI holding above 40 retains a slight bullish bias in the short-term. Otherwise, price action and momentum reflects a sideways market. ... (full story)