EUR/USD is trading below a trend-line off of last month’s low and is dangerously close to taking out 11800, which if it does positions it towards making a move on the low-11700s. That is an important area of support to keep the euro from possibly spilling lower. USD/JPY looks vulnerable here, with the possibility of a ‘head-and-shoulders’ forming; we’ll discuss more later should it come to light. AUD/USD is stuck firmly in a downtrend and yesterday’s rejection at resistance reaffirms its overall weakness. On the 4-hr chart, we looked at a developing bear-flag situation. The under-side trend-line off the 11/20 low ... (full story)