After learn to trade forex, I can say that to earn money at this moment you must buy euros Monday against Friday didn’t work out. The euro bulls were relying on fundamental factors yesterday. During trading in Europe, the euro kissed the U4 MA line. From 1.2297, a downwards correction began. Continuing into the Asian session, the euro dropped to 1.2248. At this time, the euro is trading at 1.2266. The price has moved out of overbought territory and is currently perched on the trend line. The correction has been going for 19 hours now. Since hourly cycles point towards a declining euro, I’m expecting it to meet with the LB balance line. I won’t consider buying any euros until the price returns to the balance line. I’ve made a future projection of the LB line. Interestingly, it meets with the 67th degree at 1.2214. This is a great opportunity for sellers to bring the price down at least as far as the 67th degree. If the bigger timeframes begin to unload, we could see this go even further.