EURUSD working toward a bearish close on the weekly

Technical Analysis

Author: Greg Michalowski | eurusd

Below lower trend line on the weekly

As the clock ticks to the close, the EURUSD is going out at the lowest level since the week of April 16, 2017.  The dollar has beeen king this week, and that is the case with the EURUSD as well. Last Friday, the index closed at around 1.1100. The low this week, has now reached down to 1.06375. The low just took out the earlier low today at 1.06518.  Sellers are in control.  The pair lost about 4% this week.  

Technically, the price is trading below a trend line at 1.07078. The next major targets come in at 1.04617-1.05187.

Below lower trend line on the weekly  

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