Before we get to today’s EURUSD commentary, I want to share why I haven’t been posting for the last couple of weeks.
My wife gave birth to our son last week, and had to have an unplanned c-section.
So we spent four days in the hospital, but I’m thrilled to report that everyone is healthy and doing well.
We’re still battling sleep deprivation as anyone with kids knows all too well, but I plan on getting more active with work next week.
And if I owe you an email, I’ll get to it as soon as possible.
EURUSD is breaking down today from the September channel support I’ve written about several times in recent weeks.
It’s also breaking the lows of the recent consolidation period.
If today’s breakdown holds, we should see sellers defend the 1.0960 area in the days ahead.
Key support for the euro comes in at 1.0750, followed by the 1.0530 to 1.0450 area.
Only a daily close back above the September channel bottom near 1.0970 would negate the EURUSD bearish outlook.
