The 1.2131 is the 50% of the EURUSD lifetime range. The 1..1974 is the trend line support. The 1.1876 is the low from 2010. These are the next major targets on the downside for the EURUSD.
The range for the week is now 179 pips. This is just above the low range from last week of 172 pips. The trend today has been quite orderly so far. We are not seeing the sharp corrective moves higher. Shorter focuses traders will be watching the 1.2174 area now for sellers. If the price can stay below this level, the bears/sellers remain in firm control. Above that the 1.2188 level (low from July 17th) should be a resistance area on corrections.
