FX.co ★ Daily Video Analysis: EURUSD facing bearish pressure, potential for further downside!

Today we take a look at EURUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price continues to hold below the descending trendline resistance, showing bearish pressure in line with our bearish bias. We could potentially see a reversal at our sell entry level which is in line with our 61.8% Fibonacci retracement, and further drop towards our take profit levels, which are in line with our 61.8% Fibonacci extension and -27% Fibonacci retracement levels.