EURUSD – Trudging Towards 1.3100
As we wrote about in our weekly market commentary, we suspected the bearish pressure would remain. As you can see from the daily chart below, the Euro has gapped down on the open to this week, and closed red for the first two days of this week.
After losing a handle on the key support we mentioned in 1.3193, the pair rejected off of the intra-day, treating it as a role reversal level on Monday, then heading lower.
For now, remain bearish while the pair is below 1.3350, and watch the price action around 1.3100 which is key support and may see some bulls step in.
