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Next target broken and send the price to new lows as the London/Europe market works toward the close.
The EURUSD continues to press lower, now falling below the underside of the broken trend line and the swing area at 1.1321-25.
Sellers have been in control since the high at 1.1400 stalled the early session high.
The price moved below the 50% and 200 hour MA (green line). Then the 100 hour MA. The fall below the old trend line and the swing area now makes that area a risk level for shorts. Stay below, the bears are in control.
The 1.1300 level will be the next target on more selling.
This article was originally published by Forexlive.com. Read the original article here.