The EURUSD scooted to new lows, breaking the 1.2261 level. It is also falling below the 1.2251 area which was the low from Monday. Old trend line support (see earlier post) now comes in at the 1.2247. This is being tested. You have to look for momentum below with sellers now against the 1.2261 area. The price action today has been up and down, but overall, the bias remains to the downside. The “bull flag” on the hourly chart, had it’s foundation tested on the correction higher, but is back below. This is also a bearish development that keep the shorts in charge.
