EUR/USD - 1.1837.. Euro swung wildly in hectic Wed's session. Although price fell fm 1.1879 to 1.1843 in European morning, euro jumped to 1.1899 on downbeat US ADP payrolls but only to tank to session 1.1834 lows in NY morning.

On the bigger picture, despite euro's LT upmove fm 2017 near 14-year low of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb 2018, subsequent decline to a near 3-year 1.0637 low in Mar 2020 signals correction has ended. Despite an impressive upmove to a near 33-month 1.2349 peak in early Jan 2021, subsequent decline to 1.1705 (Mar) signals top is made. Although euro climbed to 1.2266 in May, subsequent fall to 1.1753 suggests re-test of 2021 bottom at 1.1705 would be seen, break would extend MT fall fm 1.2349 twd 1.1603. Last week's rally to 1.1909 may extend marginal gain but only weekly close abv 1.1975 aborts bearish view n may risk stronger gain to 1.2090/00 in late Aug/Sep.

Today, euro's selloff fm 1.1899 to 1.1834 due to broad-based usd's rally following Fed Clarida's hawkish comments suggests correction fm 1.1753 has pos- sibly ended, a daily close below 1.1800 would head back twd 1.1753, present fall- ing hourly indicators add credence to this view. Only abv 1.1899 risks 1.1909.

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