Harry Hindsight will be screaming that it was obviously an interim top in the EUR but we’re better off listening to the interbank dealer who described Friday’s price-action in the EUR as being exhaustive; he’s been proven 100% correct. EUR/JPY and EUR/GBP have reversed the sharp gains from Friday and I suspect that the EUR will now slip into an extended period of consolidation.
I do not believe that the EUR bull phase is over, merely that we will now see a long-overdue consolidation and a healthy retracement. Use Friday’s highs as an interim top, pick some technical pull-back levels, and put your trading hats on!