It looks like Euro bulls are finally giving up. We’re unsure of the reason yet. But the selling has a lot of intensity.
EUR/USD powers through 1.2154 key support level. That’s an important indicate of medium term trend reversal. For the near term, 161.8% projection of 1.2475 to 1.2214 from 1.1991 in the next target.
EUR/GBP’s break of 0.8688 also indicates that rebound from 0.8620 has completed. And deeper fall should be seen back to this support level.
EUR/CAD’s rebound from 1.5461 should also be completed at 1.5712, ahead of 38.2% retracement of 1.6151 to 1.5461. Deeper fall would be seen back to retest 1.5461 first.
