The EURUSD has broken lower and has the 1.1100 level back in its sights.

The EURUSD has broken some key support through the 1.1170’s and now targets trend lows near 1.1110. Before traders get too bearish we have to understand that longer term the pair came out of a descending wedge, so a move to 1.1100 may offer longer term traders to setup for fresh longs.

Blake Morrow