EURUSD: The unforeseen sharp move lower prematurely ended the upward correction and the violation of the 1.2398/94 support also calls for a new low to be put in place before a new correction attempt might occur, Short term there’s a chance that we will see a bounce into the mid 1.24’s (as benchmark candles often are followed by mid body tests) before tracing out a new low (nearby potential targets are a 161.8% Fibo projection point at 1.2323, a possible wedge floor at 1.2290 and the 2010 support line at 1.2227).
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