We watched that a reversal of Market Sentiment to verdant irrational enthusiam. Eur/usd along with the other major pairs created a movement.
Option barriers and prevent losses were taken out. Momentum traders jumped on it.
This week we've got an FOMC meeting, an ECB meeting with a potential euro interest rate decrease, and the Friday's Non Farm Payroll figures. Each of these can trigger a kneejerk reaction that can test support/resistance levels.
Recognizing that, and the simple fact that the global ecomomic situation isn't all doom and gloom for now, has triggered a yearly seasonal pattern of a bull run in equities until Thanksgiving or New Years. This pattern has been consistent over time, and the Sept gloom and doom situation drove the market prices down to appreciate levels where they were purchased hard. Bears had to bail or brief pay. The market swung wildly lately clearing out orders across the way and clearing the route for a big move up. Now, the bears and the bulls are equally buyers until momentum wains. We see also a retracement along with that a motion back to check formerly broken support.

The daily chart for eur/usd indies a very small bearish colored candle. This denotes the tight range this pair traded over the day of the week. Long positions have mostly held, as the candle denotes profit taking occurred. Covers that are short are still holding. Should they dump their rankings or take profits, the pair will retrace.
You can observe the momentum indiors have reversed. We've got divergence, once the pair struck option defensive obstacles, living just under 1.4200.
The Bulls may need to hammer in order to break out. Market Sentiment will dictate exactly what this pair will do. Offers will should absorbed.
Risk On = Buy Dips
Risk off Sell Rallies