justatrader

EURUSD levels this week. Biased to the downside

FX:EURUSD   Euro Fx/U.S. Dollar
142 0 10
EURUSD             looks increasingly bearish , but poses a risk of a move higher. The H&S is widely watched and no doubt 1.13 will see some good selling coming in. Risk is of a squeeze higher to 1.1368. (Personally, prefer to short at 1.140 but doubtful if price will rally that far).

To the downside, 1.12337 - 1.1235 is a support to watch for. A break below could see more downside.
Watch for 1.115 (strong support), 1.11, 1.10 (round number) and eventually 1.095 - 1.09 (optimistic) levels.

Downside bias invalidated if prices close above 1.140

Lot of US data ahead of FOMC & GDP which could make things a bit noisy.
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