Following Monday’s breakdown below the uptrend line, the EUR/USD is approaching my first bounce target around 1.17 although I favor a continued move down to the 1.15 area before a resumption of the primary uptrend. Daily chart:
EUR-USD daily Sept 27th
The scenario below, a move down to the 23 area today, followed by a bounce & then one more thrust down to the 22.50 area before a resumption of the uptrend would mesh with my outlook for the EUR/USD.
GDX daily Sept 27th