· We stated in our last client report that “whilst minimally below 1.3490/95, we see negative pressures intact for still further erosion into latter July (and likely Friday)” and an end of week probe to another new low for the year dismissed the neutral outside Thursday pattern.
· Moreover, this activity has reinforced the bearish extension through 1.3477, the prior 2014 low.
· We still see risk to chart and retrace supports at 1.3400 and 1.3375 respectively.
· Overshoot threat is now to the 1.3295 spike low.
WHAT CHANGES THIS?
· Above 1.3550 eases bear risks; through 1.3628 signals a neutral tone, only shifting positive above 1.3652.
Download our full report with latest screencast & levels here: http://members.marketchartist.com/Daily/EURUSD.pdf
4 Hour EURUSD Chart
Daily EURUSD Chart