Idea on a chart

Euro was off fractionally this week with EUR/USD defending a rebound off yearly trend support. While the broader outlook remains weighted to the downside, the focus into December is on this recovery with the bulls eyeing a critical pivot zone just higher. Battle lines drawn on the Euro weekly technical chart. In last month’s Euro Technical Forecast we noted that, “A three-week plunge takes EUR/USD into downtrend support and a major pivot zone- risk for downside exhaustion / price inflection here. From a trading standpoint, a good zone to reduce portions of Euro short-exposure / lower protective stops