EURUSD 4 HOUR CHART – Like an Amazing Trader textbook
Sometimes technicals work like a textbook and this is the case in today’s EURUSD break of 1.1098. As the chart shows, next target was 1.1071 following the 1.1098 break and that level has been tested. Below that is the key trendline.
There didn’t seem to be catalyst for EURUSD falling off a cliff today other than soft German states CPI and selling that ran stops. As I have been noting, EUR has been a weak link in the dollar sell off/
Otherwise, the break of 1.11 leaves this as the pivotal level that will set its tone,