EUR/USD: Next Target?

 | May 20, 2013 09:18AM ET

Currently we are at 1.2852. We have had a small retracement at the S5 so we are looking for the continuation to the Day chart bottom at 1.2738 and then the 1.618 support at 1.2710. We are bearish. The current average daily trading range (ATR) is 109 pips.