The EURUSD has cracked lower, away from it's parity level at 1.000 0and is working down toward the last month low at 0.99515. The low price just reached 0.09669, within 15 or so pips of the July 14 low.
Looking at the hourly chart, the price earlier in the London morning session broke below the parity level on its way to eight low price of 0.9988. The price rotated back to the upside. The move to the upside to the price back above the parity level and a swing area above and below the parity level.
In the short term, stay below parity level now would be more bearish. I respect that level from a technical perspective "just because). The move below 0.99515 opens a door for further downside.
Drilling to the five minute chart, in the morning video I spoke about the 100 bar moving average being a short-term level that buyers would need to get and stay above along with the 200 bar moving average (the green line). The price got close to that moving average level before the tumble over the last 30 -40 minutes.
- German DAX is down -2.34%
- France's CAC is down -1.94%
In the US, the NASDAQ index is down -1.92%, while the S&P index is trading down -1.58% in the Dow industrial average is down -1.31%.