EURUSD remains in a bearish trend. Price today broke below 1.20 and is approaching our first pull back target of 1.19-1.1870. Price has broken key trend line support and with the RSI far from oversold levels, we expect this pair to remain under pressure.


Red line – support (broken)

EURUSD continues making lower lows and lower highs. Clearly trend is bearish and betting against it should be avoided. The 38% Fibonacci retracement level remains our 1st target for the pull back. There is no sign of a bullish reversal or an indication of a short-term bottom. That is why I consider every bounce as a selling opportunity.

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