EURUSD is trading just above 1.18, with price having made fresh 2021 lows. Trend remains bearish and our initial target for a pull back towards 1.17 is coming closer. Price continues making lower lows and lower highs.
Red line – support
EURUSD is expected to touch the red downward sloping trend line and get as close as possible towards the magnet that 1.17 is. As long as price is below $1.1950 we remain bearish in all time frames. There are some warning signs by the RSI regarding some bearish divergence that should not be ignored.
The material has been provided by InstaForex Company – www.instaforex.com
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