EUR/USD Today's Technical Report 09.19

EUR / USD: The sharp drop below the lows of July and the establishment below 200 day SMA solidifies the potential of the stature of a major top low monthly figure now in the end, projects Additional reductions to the 1.2000 area in the coming weeks and months. The last days at rally outside the area of ​​1.3500 lows has stalled out at our projected lower region between 1.3835 and 1.4055 higher and a break back below 1.3500 will confirm the minimum point in 1.3940 and accelerate declines down towards 1.3000. Ultimately, only back above 1.3940 delays perspective and gives reason for pause.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com