The fall started from 108.32 is very strong and it could signal end of the correction started from 104.94. If this is the case, an acceleration of the fall should be expected. A key support is 107.30. On the other side a fall below 106.80 should bring a sell-off to 105.40 first.

Trading strategy: 11:06 EST; 16:06 GMT

Short position from 107.00, move the stop loss from 107.61 to 107.35, target - open

Confidence level – changed from low to medium

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.