EURUSD moves lower and closer to the next target at 1.1300

Technical Analysis

Author: Greg Michalowski | eurusd

August and October swing lows at 1.1300

The EURUSD moved below a broken trend line and swing area at 1.1321-25. What is important for the bias, is the price could not move back above that area. Sellers remain in control.

What next?

Looking at the daily chart, the 1.1300 level was the low in August and October.   That should give traders some cause for pause into the weekend.  If not look for the buyers against the level, to give up on a break below.

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