What's causing the EURUSD to fall

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so rapidly this evening?

 
sirpip:
so rapidly this evening?

Yesterday and today Asia has sold off the E/U, it is following the overall move of last Friday's NFP release.

E/U was overbought, so the pull back is normal, let it run to 3800 and then we may see some relief, but it will be another day probably of bearish movement.

Just my opinion, welcome to FX FISH.

Cheers.

Daily chart, watching the lower trend line that should hit around 3800, also 3800 has been a major player.

Files:
EU_daily.jpg  33 kb
 

It's very simple the euro dont forget bear in mind is in a "DOWN" trend it had reached 1.60+level, sold off to 1.25 level then retraced back to 1.50+ level sold off to 1.18 level it had just finished its fib. retracement of 62% @1.42 and now heading back down.

Happy motoring

 

Price came near the 3800, stalling for now at 3823 before the bounce up in London session.

Here is the daily chart that I posted previously, looks like that trend line held and that support area.

Now to see if it can get back above 4000 and stay?

Files:
eu_daily.jpg  42 kb
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