With the EUR/USD dropping another 100 pips overnight to a US session open this is sounding like a familiar story. At the current 130.00 an eventual drop to the 128.00 area is looking more and more likely.
This is a 30 minute chart so we can see the projection of the OL from the 26th into today’s session as well as the current OL. The 30 minute linear regression channel (24) is also ominous as it points to the depths below. The 5 minute LR14 channel flattened and then turned up slope 15 minutes into the US equities open hinting at a short term Long opportunity, but I’m not a believer at this point.
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