The euro failed to hold on to early gains against the dollar yesterday and extended its losing streak against the dollar to four sessions. But that doesn’t necessarily mean that any consolidation or correction has already played out and today’s price action supports this. Of course, it’s easy to say at this now, with price today having already taken out yesterday’s highs and still trading above them. But there were warning signs prior to this. Yesterday’s candle represents indecision and while it’s regarded as being more bearish than bullish, as the bulls were unable to hold onto gains, it does require confirmation. ... (full story)