Yellen’s remarks on Wednesday seem to have dampened the chances of a hike in June, unless economical data is much stronger than expected. We saw the Euro jump after Yellen started speaking to end much higher on Wednesday, Thursday the retracement took a breather and the Euro practically lost all its gains, however today it showed more momentum and ended the day and the week higher. Looking at the weekly chart shows today’s close as forming a two bar double bottom. Considering it is on a weekly chart, the distance of the candle from the cloud, around 20%, and the change of stance from the FED, looks like the Euro is in for a big retracement; breaking 1.1000 could leave room for a retracement to 1.1600

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