FX.co ★ EURUSD still in bearish trend

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.