- The EU stress test results were not great, but not as bad as anticipated neither. - However the 1.42 level was defended on Friday, and well defended to start the week as well, as the EUR/USD opened with a gap to the downside. - Getting deeper into the Asian session, the market is in a declining support. - The RSI in the 1H chart is breaking below 40, and killing the short-term bullish momentum we established last week. A reading below 30 returns the market to bearish momentum in the short-term. - The 4H chart shows that the momentum in the medium term is bearish, and remains so as the RSI reading failed to break ... (full story)