Oct 12, 2016 - (Chart of the day) EURUSD - slow and steady to the dowside

Hi,
so... EURUSD today... slow and steady move to the downside. I do expect we got the chance to see acceleration below psychological 1,10.
Ok, so what is going on ?
First: bears were able to close below 1,1130 ( on daily basis )
Second: another breakdown today and close below 1,1145/30...

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Currently we are trading just few pips above 1,10 and I could not see any evidences that bulls are going to try to fight for it. Daily close ( weekly close would be even better but then could be too late to trade :) ) below 1,10 might be good excuse for further acceleration to the downside. 

So, is 1,05 next ?

Medium/Long term - we are still bullish USD ( so far so good )

Intraday - ydy we were trying some EURUSD longs at the very last demand ( 1,1145/30 ) but been stopped out and now we are in a selling rallies mood.

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Happy Trading
Mr Price Action


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