EURUSD bear bias
· A breakdown through the recent cycle low to end the week and month as we had flagged and expected to maintains bearish pressures into September from the previous erosion of important supports from the 2013-14 bull run.
· We still see early September risk to the 1.3105 swing low from September 2013.
· Overshoot threat for early September is lower, for the 78.6% retrace of the 2013-14 rally at 1.3020 and 1.3000.
WHAT CHANGES THIS?
· Above 1.3221 eases bear risks; through 1.3298 signals a neutral tone, only shifting positive above 1.3445.
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4 Hour EURUSD Chart
Daily EURUSD Chart