ECB, NFP reactions, correction: The 1H EUR/USD chart shows a market that had bearish reaction to the ECB and NFP event risks. To start this week, the EUR/USD held above last week’s 1.2805 low and rallied above a near-term pivot at 1.2844 reflecting a correction, or relief rally after a sharply bearish week. RSI: The RSI tells the story of the bearish momentum in the 1H chart as the reading held mostly under 60 during pullbacks and consolidations throughout the last couple of weeks. If the RSI gets back around 60 again, see if it flattens out, in which case, it may help with timing a “fade a rally” trade plan into a ... (full story)