The action is one way in the EURUSD . The corrections have been very limited. Target levels 1.2189. 1.2180 and 1.2162 (see chart above) . The 50% of the EURUSD life time range comes in at 1.2131.
On a correction, aggressive sellers would come at 1.2211/17. This is the corrective low from yesterday’s trade and a high from Friday’s trade before breaking higher. A more patient sell would be at the 1.2225 area, with a move above the 1.22365 (50% of the trend leg down) as a stop. Remember as well that the 100 hour MA is at 11.2235. If the bears remain in control, look for the sellers to keep the price offered below these levels now.
