Looks toward the low for the week
Coeure is saying that the economic slowdown is stronger and broader than expected and that has moved the EURUSD to new session lows. The pair is now testing - and breaking below - the low for the week at 1.1249 (just reached 1.1243 as I type) and tests a trend line connecting the lows for the week. A move below opens up the downside. Sellers are in control.
PS. the highs for the day could not extend above the trend line, nor show momentum above the 100 hour MA. Bearish.
