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EUR/USD still in a downtrend
Greece worries exploded onto the scene over the weekend, causing a continuation of the short-term downtrend that began last week at $1.1250.
This series of lower highs and lower lows will be preserved unless EUR/USD can move back above $1.1190. If the price fails to make a new higher high, we look to see if it can move below the $1.1110 level. A drop below $1.1080 would likely be the signal for a deeper retracement to $1.10 itself.