EURUSD MEDIUM-TERM BEARISH BELOW 1.2154 LEVEL
The euro had fallen to its lowest trading level in three-month against the U.S dollar, hitting 1.2095, after the key 1.2154 support level was finally breached on Thursday. The EURUSD pair tumbled lower as the U.S dollar index surged higher on much better than expected U.S economic data, as U.S Initial Jobless claims hit a forty-eight year low. Sellers may target the key 1.2050 and 1.2000 levels, with the euro now medium-term bearish while trading below the 1.2154 level.
The EURUSD pair is strongly bearish while trading below the 1.2154 level, further intraday losses towards 1.2054 and 1.2030 appear possible.
If the EURUSD pair starts to trade back above the 1.2154 level, a correction back towards the 1.2200 and 1.2248 levels may occur.