A slowing of the rebound since the ECB points to a consolidation theme for Monday.
But the previous plunge through chart support at 1.0713 leaves a more bearish theme into April.
For Today: We see a neutral tone between 1.0888 and 1.0732 (but with a negative bias)
Break above 1.0888 aims for 1.0955, which we would look to try to cap.
Break below 1.0732 aims through 1.0688 and targets 1.0623, which we would look to try to hold.
Short-/Intermediate-term Outlook - Downside Risks:
Into April we see bias for a further for a retest of the March 1.0459 March cycle low.
As we have stated since last year, for 2015 (Q2?), the threat is to PARITY and just below here, .9900, the 78.6% retrace of the entire 2000-2008 bull rally.
Overshoot risk for Q2 is now lower to the .9609 swing low from 2002.
What Changes This? Through 1.1053 signals a neutral tone, only shifting positive above 1.1249.
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4 Hour EURUSD Chart