I have my stops under the 1.3501 low but matters are certainly looking precarious for the EURUSD at the moment. The weekly chart shows price nestling into the ichimoku cloud and the 50% median line of the rolling yearly price channel, whilst the daily has it rejected the cloud above and is sat on the 3month rolling low. Price is sat right on a particularly interesting trend line at present......
There is a likely move to the 1.3610 area on the 4hr chart, even if the bearish scenario prevails, but a breach there would have the hourly's up too and a possible bullish buy at the trend line storyboard in play. The 4hr cloud is thin there, and the monthly FLD is offering a pass to higher ground, towards the rolling monthly high. We shall see.
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