Moves below the 1.0923-26 area
The EURUSD is cracking to new lows as London/European session heads toward the close for the day. In the process the pair has moved below a lower trendline on the hourly chart at the 1.0921 level. The 1.0900 level is the next target. A lower trendline on the hourly chart comes in at 1.09975 (and moving lower).
Take a look at the daily chart below, the price is also moving below its swing lows from early September at the 1.0923 – 26 area. Stay below that area will have traders looking toward the low from 2019 (and lowest level since May 2017) at 1.08787.
Risk now for the shorts comes in at 1.0926.
