EURUSD
The Euro finally broke below strong 1.1270/90 support zone, Fibonacci 61.8% of 1.1015/1.1712 rally, reinforced by daily Kijun-sen / 10SMA, following short consolidation above the support that was capped by daily Tenkan-sen line at 1.1363. Fresh acceleration lower opens next targets at 1.1212/00, former top of 12 Aug / round figure support, which lay above more significant 1.1136/28, daily Ichimoku cloud top / rising daily 20SMA. Repeated bearish close today, would also mark formation of reversal pattern, signal of possible stronger pullback. South-heading daily indicators and bearish near-term structure, favor scenario. Daily Kijun-sen offers initial resistance at 1.1270, ahead of 200SMA at 1.1316, with daily close below here, to confirm bearish stance.
Res: 1.1396; 1.1451; 1.1500; 1.1551
Sup: 1.1212; 1.1136; 1.1128; 1.1080
The Euro finally broke below strong 1.1270/90 support zone, Fibonacci 61.8% of 1.1015/1.1712 rally, reinforced by daily Kijun-sen / 10SMA, following short consolidation above the support that was capped by daily Tenkan-sen line at 1.1363. Fresh acceleration lower opens next targets at 1.1212/00, former top of 12 Aug / round figure support, which lay above more significant 1.1136/28, daily Ichimoku cloud top / rising daily 20SMA. Repeated bearish close today, would also mark formation of reversal pattern, signal of possible stronger pullback. South-heading daily indicators and bearish near-term structure, favor scenario. Daily Kijun-sen offers initial resistance at 1.1270, ahead of 200SMA at 1.1316, with daily close below here, to confirm bearish stance.
Res: 1.1396; 1.1451; 1.1500; 1.1551
Sup: 1.1212; 1.1136; 1.1128; 1.1080
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