SPOT EURUSD - Upside rejection points signals lower, temporarily

​ Yesterday's bullish forecast was initially confirmed with Monday’s modest setback solidly overturned. This move took EURUSD through 1.1700, to our first weekly upside target and to the most positive levels traded in 2 ½ years. But with intraday signals for sentiment overbought, profit taking developed and took the market back to an almost unchanged close. This ‘Doji’ patterns suggest indecision but it is the upside rejection that is assessed as the likely main influence on early price action Wednesday. So, cautiously and temporarily, this morning’s call is a Sell but leaving room to Sell any Rally to 1.1680. The risk is yesterday's 1.1713 high with an immediate target of 1.1619, Friday’s low. A move through that point then exposes sentiment to 1.1596 and 1.1574, Thursday’s Marabuzo line.