Currently: Short Looking to: Cover at 1.0956
As of 1/10/20 close: 1.1121
LAST WEEK: We suggested shorting rallies to 1.1210 with stops on a daily close above 1.1220 and with a target of 1.0956.
UPDATE: The EURUSD traded lower this week, but rebounded late to stem losses a bit. Key short-term support
for EURUSD comes in at 1.1079. A break below that will confirm that the upside is over for EURUSD for now. On the other hand, if 1.1213 is conquered on the upside, the next possible ceiling is 1.1319.
We would still short bounces to 1.116 with stops on a daily close above 1.12 and with a target of 1.0956.