EURUSD falls into - and after - the London fix

Technical Analysis

Author: Greg Michalowski | eurusd

High reached 1.20027.  Short of the 1.20105 high for 2020.

The EURUSD fell into - and after - the London fix.  It is month-end and that may have played a part in the volatility

High reached 1.20027.  Short of the 1.20105 high for 2020.
The fall came after stalling ahead of the 2020 high price from September 1 at 1.2010. The subsequent fall took the price below a topside trend line on the hourly chart, and below a swing area between 1.19612 and 1.1965. The 1.1965 level was also a swing high going back to August 18, 2020 (not shown).  Stay below that level keeps the sellers more in control. 

The price is also now lower on the day (vs Friday's close).

In an earlier post, I spoke about how the sellers needed to take back more control from the buyers. They are starting to do that below the topside trend line, the swing area, and the August 18 high at 1.1965 (see earlier post). Stay below and there could be more probing with 1.19404 and the rising 100 hour moving average at 1.1924 as the next targets.  
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