The euro is looking a little more bullish against the dollar again, but the lack of momentum is a concern. Not only did the pair fail to make a new higher during the previous rally before correcting, the bounce off the 50 fib level wasn’t very convincing. Clearly 1.40, not far above the current level, is a major psychological level and is making traders a little cautious as we approach it. Should we break above that level, we could then see more aggressive buying. For now I expect the caution to continue with mild gains being made. The 4-hour chart shows an imperfect double bottom forming with the neckline around ... (full story)