EURUSD - Break below key average points lower
|Despite Tuesday’s rejection of levels below the 100 day mvg avg, yesterday's call was a bearish one. That was justified as selling interest was renewed and 2 of our downside targets were met. More importantly the decline took EURUSD to a close beneath the 100 day average – the first time for more than 4 months. Further volatility is likely, especially after an Asian rally attempt, but this morning’s call is a Sell but leaving room to Sell any Rally to 1.2196, yesterday's Marabuzo line. The risk is 1.2240, Wednesday’s high, with an immediate target of 1.2155, March’s low. A move through that point then exposes sentiment to 1.2138, a 50% correction of the Dec-Feb rise, and 1.2103.
Through Average
EURUSD Current Trading Positions
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