Falls below support risk level
The EURUSD found the sellers against the lower extreme of the topside resistance (see earlier post) on the hourly chart (see chart below).
It has now fallen below the support trend line/MA on the 5-minute chart that defined the risk. Stops were triggered on the break at the 1.0916 area and the price has scooted to (and through) the 1.0900 level. The 100 hour MA looms below at the 1.0890 level.
If the resistance cannot be broken and the support level is broken, the market traders throw in the towel. They are throwing/threw in the towel.
