EURUSD (1.2320): The EURUSD closed with a doji on Friday following Thursday’s strong losses. With price action closing back below the price level of 1.2363 – 1.2333 level, we expect EURUSD to continue to push lower as a result. The downside target comes in at the previously established low of 1.2179, followed by a move towards 1.2090 – 1.2070 which could be tested as the markets head closer to next week’s FOMC meeting. To the upside, a breakout above 1.2333 could signal near term gains but the upside bias seems to be easing.
