Eurusd by breaking that trendline broke down from the apex top and should trend down filling the illiquid July bull run to the point of its release. Yesterdays break of support is also a bearish signal. Of course the first break was a fake (to trap sellers). Now market makers are trapping buyers before driving price down.
After taking a look at crude oil (with which euro correlates, crude leads euro and the stock market) it should plunge from ca 40 (liquidity level which will suck in all the "election turmoil bids"). With massive lockdowns I dont think crude will trend above 40 (no big investor would take such a risk with rocketing covid numbers and ever decreasing demand for oil). All together this makes sense. I would look for shorts. Of course price is gonna stall and retrace on the way.
Stop above 1.18 (red line). If price accumulates above 1.18 it should move higher.
After taking a look at crude oil (with which euro correlates, crude leads euro and the stock market) it should plunge from ca 40 (liquidity level which will suck in all the "election turmoil bids"). With massive lockdowns I dont think crude will trend above 40 (no big investor would take such a risk with rocketing covid numbers and ever decreasing demand for oil). All together this makes sense. I would look for shorts. Of course price is gonna stall and retrace on the way.
Stop above 1.18 (red line). If price accumulates above 1.18 it should move higher.