5 waves up out of the triangle are complete, which leaves the EURUSD vulnerable to at least a corrective decline. 13165-13200 is support and the larger trend is considered bullish towards the mid 13400s as long as price is above 13088 (2/7 low). So, I am looking lower from here but will establish longs below 13200.

I like buying EURUSD dips as SSI shows traders remain aggressively short, the current ratio stands at a substantial -1.84. There are 1.84 traders short for every one long, and the trend favors further gains.

I'm currently long from market (1.3263 at time of entry), stop below the morning's high at 1.3240, initial profit targets at range highs near 1.3290. If I get stop I'll likely re-enter.

-- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Our constructive outlook remains intact despite the latest interday pullback with the market largely still consolidating around parity ahead of what we believe will be an eventual retest of the key October highs by 1.0660. From here, look for any interday pullbacks to be very well supported above 0.9900 on a daily close basis, while ultimately, only a close below 0.9900 would give reason for concern. Meanwhile, a close back above 1.0035 confirms and should accelerate gains. Stops should be placed on a close below 0.9900 with a 1.0600 objective.