The EURUSD is breaking lower, and in the process has moved to a new 2024 low. The old low from last week at 1.04956 has been broken and now is close risk for short-term traders looking for more downside momentum. Stay below is more bearish.
The low price has reached 1.0474 so far. The next key target comes in at 1.0448 which was the low price from 2023 (October 4). Close risk for short-term traders would be a move back above the 1.05000 level. More conservative risk for sellers looking for more downside might be a move above 1.05158 – 1.05316 swing area.
This article was written by Greg Michalowski at www.forexlive.com.
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