Short EURUSD – Riding The Range

EURUSD has fallen sharply following its brief foray above 1.3400, and the break below price, 55-day average and 38.2% retracement support at 1.3206/1.3186 has seen a small top established, turning the risk lower for the 200-day average at 1.3145 initially, ahead of 1.3103.

Our main target would be set at 1.3021/1.2980 – the measured target from the top and the 61.8% retracement of the July/August rally. Below 1.2980 is needed to warn of a move back to the lower end of the medium-term range at 1.2755/46. Read the full report

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