EUR/USD collapsed to our target of 1.0780 and holding below here as I write now. The break of the 3 week trend line support adds pressure and a break below 1.0755/50 targets last week's low of 1.0717/12. A break and close below here is more negative of course and targets support at 1.0685/80. This is the best chance bulls have to mount a defense today but with the outlook negative any longs need stops below 1.0650. Be ready to go with a break lower using 1.0685/80 as resistance to target 1.0615/10 then 1.0585/80.
Above 1.0800 may open the door to a recovery as far as 1.0840/50. Sell expecting a high for the day with stops on a move above 1.0870. Try shorts again at 1.0890/95 with stops above 1.0915.