Our analysis was slightly off on Tuesday on EU. Not so much on the direction as the timeframe and shape. It looks like we'll get a Head and Shoulders formation on the daily, with an inverse Head and Shoulders on the hourly about to give us the reversal to complete the right shoulder. From that point, dollar bulls should take charge again and EU should reach 1.05500 at the least. We'll either see an inverse H and S on the weekly, a double bottom, or a new low. Time and news will tell.
