EURUSD traders stick a toe in the water near a couple support targets, but find sellers still in control

Technical Analysis

Next target broken and send the price to new lows as the London/Europe market works toward the close.

The EURUSD continues to press lower, now falling below the underside of the broken trend line and the swing area at 1.1321-25. 

Sellers have been in control since the high at 1.1400 stalled the early session high.

The price moved below the 50% and 200 hour MA (green line).  Then the 100 hour MA.   The fall below the old trend line and the swing area now makes that area a risk level for shorts. Stay below, the bears are in control.

The 1.1300 level will be the next target on more selling.


Products You May Like

Articles You May Like

AUD/USD: Bears eye a run to 0.6950/the 61.8% retracement, but still plenty to be bullish for as well
USD/CAD rises to session highs as buyers search for a near-term break
GBP/USD: Some stabilization here – Commerzbank
Will the US and China finally share their toys?
Gold Price Analysis: Trump Mulls Emergency Action, YTD Highs in Focus

Leave a Reply

Your email address will not be published. Required fields are marked *