EURUSD
The Euro slipped below the sup level @1.1865 during the Asian session and tested bids in the 1.1820 area. Followed by a retracement to the .50 fib of the 1.1927-1.1825 move, the Euro is giving clues that the downward move of Friday may resume today. Intraday resistance is formed in the 1.1870 area by the downward trendline started at 1.1964 extended through the highs of Friday and the current daily high at 1.1876. In case of a break through 1.1870, the Euro will face resistance at 1.1925. Support is formed by 1.1825. Current exchange rate is 1.1856
Trading strategies:
Short in the 1.1870 area, stops above 1.1900, objectives at and below 1.1825. Extended objectives may target 1.1770.
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