EURUSD Freefall

EURUSD, along side the other majors has been trading USD strength and has covered over 500 points in the last 24 hours. The pair failed to trigger our inverted head and shoulders breaking through every support level in sight and pushing well beyong 1.3000. Trading just under 1.2800 with 1.2650 in sight the bearish momentum looks very strong fueled by US fundamentals and risk aversion that makes the USD a primary target.

EURUSD, along side the other majors has been trading USD strength and has covered over 500 points in the last 24 hours. The pair failed to trigger our inverted head and shoulders breaking through every support level in sight and pushing well beyong 1.3000. Trading just under 1.2800 with 1.2650 in sight the bearish momentum looks very strong fueled by US fundamentals and risk aversion that makes the USD a primary target. Once we get around 1.2650 we can re-evaluate and look for a possible retracement.

 

[NP][/NP]