EURUSD breaks below 100 day MA and 38.2% retracement

• The EURUSD is starting the NY trading day by moving below the key 100 day MA and the 38.2% retracement level at the 1.3156 level.
• The 1.3122 trend line support is the next target for the pair.

Looking at the 5 minute chart below:

• The market is using the 100 bar MA as a guide for the trend down (one brief move above before the trend down continues)
• Watching the channels for clues the trend continues, accelerates or is over.