Inside technicals and chart patterns by 
It’s always nice and fun and needed to play out different scenarios on the chart. A bottom on the EUR/USD is one that while cetianly can be possible is simply not a reality when you look at current price action.
I am not as impressed with the U.S. Dollar Index running up through 88.00 where is was sold off swiftly starting early in yesterday’s Asian session and accelerated in the European/U.K. overlap. I am am impressed with the support at 87.00. Remember higher highs in an uptrend are important to the psychology of attracting buyers but it’s the support — the higher lows — that are the backbone of the move.
That means the bigger picture downside targets in the EUR/USD are likely alive and well, as is the dollar safe haven play.