More bearish technically
The EURUSD story is getting more bearish. The price cracked below the 1.2322 level. That took the price back below the floor area (1.2322-34).
As mentioned in an earlier post, the price did move below that level and failed yesterday. So risk focused traders will continue to want to see the break level remain broken (yellow area). They also want to see lower targets to continue to be taken out. The next one is the 1.22994. That is the 382.% of the move up from the January 9 low (low for the year). A move - and staying below - gives the sellers more ammunition.
PS The price just broke and ran a little more (low 1.2284). Close risk now at 1.2300 area.