Forex technical analysis: EURUSD breaks to lowest level since August 7th
Next targets are the swing lows going back to May, July and August
- the low price from August 7 at 1.0863,
- the low from August 5 at 1.0847,
- the low price from May at 1.08183 and
- the low price from July 20 at 1.08074.
RISK for shorts?
The move lower has taken the price below the lower trend line on the 5-minute chart below. The trend leg lower has the 38.2%-50% at the 1.0890-94. The broken trend line comes in at 1.0896. Stay below, and the sellers remain in control. Move above and the trend move lower gets a little muddy.