We fell below the bottom of the short term range by 8 odd pips as the buck went on the march. We’re bouncing now but I’m not convinced that the move is over.

EUR/USD H4 chart 17 12 2014

EUR/USD H4 chart 17 12 2014

Boom!. As soon as I hit publish we drop back below the low to 1.2343. It might be too far today but the June 20100 support line, which also has the 200 mma, is my favourable target.