EURUSD is moving below 1.1150 short-term support pushing below the 61.8% Fibonacci retracement. This is a weakness sign that implies there are increased chances of breaking below 1.11 soon. Bears remain in control of the trend.
EURUSD has pushed towards the 78.6% Fibonacci retracement. The longer price stays below 1.1150 the higher the chances of breaking below 1.11 soon. Bulls were not strong enough to break above 1.1230 and resistance remains intact. Bears remain in control of the trend as price continues to make lower lows and lower highs since January. Last Thursday's bullish reversal candle could soon be canceled. We warned that a rejection at 1.12-1.1230 would be a bearish signal and so far this has come true. Bulls need to act now and close the day above 1.1150 in order to continue to have hopes for a move back towards 1.12 or higher.
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