Bearish Bias on the EURUSD

Hrly Butter Fly sent on the 13th December 2010  Was finially respected at 2.618 as prices Crashed Back Down from 1.3497
I Have a Bearish Bias on the Euro as strong Bear bars to the dwn side show them selfs to be dominate . As prices consolidate at 1.3240 161.8 exapnsion from  A/1.3497 to B/1.3370  to C/1.3440 price finished at  D/1.3240  161.8 % expansion
(our USDX 5th wave up is still in play. )
A possable reentry to the dwn side would be.
1.3309 /1.3318 which is  just under the 38.2% giving us an 1hrly confluence resistance and also 100DMA line and 1.3334 which is my daily pivot point Resistance which is just under the ABC Drop
stop loss at 1.3377 Target  1.3000 Area


Waite for Over-Brought Enviromnet on hrly Stochastics
 However, 4hr chart AB/CD prices are holding outter trend line to the upside  if Prices move

  back into 1.3302 the we could begin to test the highs again.