The decline in the euro stalled for a short time overnight after rumors of Greece exiting the Eurozone were denied. by Greece and Germany over the weekend. However, the corrective bounce was short-lived as broke through the upward sloping reaction line it had been following since late Friday. This last downswing (basis the 60-minute chart) could be the last downward thrust before the euro does find support at a prior swing high (1.4095 posted on November 4, 2010).I will monitor the market to see if the euro begins a trend shift and forms a new bullish signal pattern.
