EURUSD trades to new session lows

Technical Analysis

Author: Greg Michalowski | eurusd

EURUSD cracked below trend line at 1.0847

The EURUSD has traded to a new session low of 1.08334. In the process the price move below a trend line at 1.0847.  A lower trendline comes in at 1.0827.  Finally the top of a gap going all the way back to May 2017 comes in at 1.0820 (the lower end of the comes in at 1.07768).

EURUSD cracked below trend line at 1.0847_
Sellers looking for more downside have close risk now at the broken trend line. The low from yesterday at 1.0864 may also be a risk level or the close from yesterday at 1.0872 is also a risk level for shorts. The EURUSD is in day number 8 of 9 where the prices lower.  

The EURGBP is helping the downside for the EURUSD. It is tumbling today(now) and is getting closer to the 2019 low price from December at 0.82594.  The price just fell below the December 16 low of 0.8301.


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