EUR/USD update – further losses likely

EUR/USD fell as anticipated yesterday via a post here EUR/USD looks like a short trade now

Euro’s almost 100-pip drop today to near 1.13 lvl following back to back spinning top formations seen on the daily chart from April 1 indicates bears are to be in control at least till the spot drops to 1.1236-1.1220.

Break lower could yield 1.11-1.1088. On the other hand, rebound from 1.1236 if followed by a rise abv 1.1342 would shift risk in favor of a rise to 1.1460-1.15 levels.

EURUSD D1 (04-13-2016 1625).png


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