EURUSD traders stick a toe in the water near a couple support targets, but find sellers still in control

Technical Analysis

Author: Greg Michalowski | eurusd

Next target broken and send the price to new lows as the London/Europe market works toward the close.

The EURUSD continues to press lower, now falling below the underside of the broken trend line and the swing area at 1.1321-25. 


Sellers have been in control since the high at 1.1400 stalled the early session high.

The price moved below the 50% and 200 hour MA (green line).  Then the 100 hour MA.   The fall below the old trend line and the swing area now makes that area a risk level for shorts. Stay below, the bears are in control.

The 1.1300 level will be the next target on more selling.



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