Setting new profit target as EURUSD breaks lower

Last week I mentioned that the EURUSD broke lower. Keeping in mind that trendlines can be re-drawn, I have set a new profit taking zone given the current breakout continuation.

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EURUSD 4-Hour

The original trend-line experienced a weak breakout and I took some losses as price rallied once again up to the 17th of July. The recent breakout also shows resistance forming on the opposite side of the trend-line.

Onto my new profit target, which sits at the bottom of the drop on the 26th of June. The new price target sits just under 1.095~.

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