I don't think holidays have anything to do with it. Its just taking a while for the results of the rate cut to push through what was bullish momentum. Bulls keep trying to buy dips. Its obvious because of how it chopped its way to the weekly pivot. Then break out traders and long s/l getting hit, took it through the pivot, but now has reached more bulls buying on the extended dip.
If the bulls stop buying dips or slack off then we could see further euro$ decline.
A weekly close below weekly pivot is confirmation of further correction.
If the bulls stop buying dips or slack off then we could see further euro$ decline.
A weekly close below weekly pivot is confirmation of further correction.