EUR/USD breaking lower from 61.8% Fibonacci retracement
EUR/USD is selling off sharply this morning, continuing the weakness seen in the wake of a 61.8% retracement last week. That marks a continuation of the downtrend in play throughout October.
However, we have now come to challenge an important historical inside trendline, which acted as support in the past. Watch out for how the pair reacts to this trendline, with another break lower highlighting a continuation of the bearish trend. However, also be aware that before long we will retrace upwards once again, upon which we can look for another Fibonacci selling opportunity.