• EUR/USD 21-WMA falling below 100-WMA - sell signal

• The pair dropped to 1.1140 in wake US CPI data

• The 2026 low is 1.1105

• The 200-weekly moving average is 1.1112

• Mid-point of 2025-2026 rise from 1.0125 to 1.2084 is 1.1105

• Close below 1.1105 (1.1100) would target drop toward 1.0850

• The Big EUR/USD short is increasingly hard to justify

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(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)