There was further selling on Tuesday in the Euro as support and prior lows were taken out. The trend remains down on all time frames. I am still watching for moves above resistance for signals of a reversal, yet breaks below support should also also be traded as that is the current trend.
With the additional selling seen on Tuesday, it will take a move 1.2450 to indicate any bullishness which has a chance of being sustained.
Resistance is at 1.22 followed by 1.2230-1.2250. Resistance beyond is at 1.2280 and 1.2310.
On the downside, support is at 1.2150 with a slide below indicating further selling and a short-term target of 1.2100 and 1.2050.
Cory Mitchell, CMT
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