EURUSD plunged through the bottom of its current range a well as a rising trendline as weak euro data caused euro to weaken.
It was also probably due to the lack of demand to support the price after a second retest of the breakout level.
Based on the current movement, the seller is clearly in control of the trend and will most likely fall further.
During the U.S. session later, we can wait for the price to pull back towards the breakout level at 1.128 for a retest and look for a reversal signal to sell.
It was also probably due to the lack of demand to support the price after a second retest of the breakout level.
Based on the current movement, the seller is clearly in control of the trend and will most likely fall further.
During the U.S. session later, we can wait for the price to pull back towards the breakout level at 1.128 for a retest and look for a reversal signal to sell.
