Last Tuesday I wrote that the future direction of EURUSD hinged on 1.1430. The very next day, sellers had their moment. The single currency reached a session high of 1.1500 on November 7th, but sellers forced a sub 1.1430 close. That was our signal to go short. At the very least, it suggested sellers had no intention of letting up. Between Thursday and Friday of last week, EURUSD gave up another 90 pips. That led me to suspect an imminent breakdown. In fact, that’s exactly what I wrote on Sunday. I didn’t expect it to happen so soon, but I’m not too surprised given the bearish momentum of late. Now that you’re all ... (full story)