Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

EURUSD Threatening To Fall Lower

The EURUSD moved lower today after only partially filling its week-opening gap lower. This market is clearly still in a downtrend and right now it is sitting at key support near 1.2870, threatening to break lower. If the market does break lower, we don't see another key level of support until about 1.2660. Traders can watch for price action sell signals forming after rotations back to resistance to trade in-line with the downtrend.

1363742453-clip-19kb