Although fundamentals continue to be Euro negative, we would not rule out the potential for a short-term corrective rally in the Euro over the coming sessions. Technically, daily studies are now oversold, and the risks from here are for some form of a bounce before underlying trend resumption. There are some buy-stops reported in EUR/USD above 1.2815, and we would look for a daily close above this level to open the door for a move back towards the 1.3000-1.3200 area over the coming days. Ultimately however, we do remain Euro bearish and target deeper setbacks in this market towards 1.2000 over the coming months. ... (full story)