New York Session Watch EURUSD

FX:EURUSD   Euro / U.S. Dollar
There was an inside bar candlestick pattern formed on EUR/USD in today's Asian session which could lead the price lower in today's New York session. Over the shorter term horizon, the trend is flat while the long term trend is still down as the price remains below the 200 period golden moving average. Note that the Stochastic indicator and Commodity Channel Index ( CCI ) are showing the price is overbought at the time that the inside bar candlestick pattern was formed which adds fuel to the bears. With all that being said, we could potentially have great selling opportunities in today's New York session. The lower band of the Bollinger Band and the 1.2610 support level could serve as the first target for sellers and the 1.2510 support level could serve as the second target for sellers to take profits.
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