EURUSD remains in a bearish trend as price continues to make lower lows and lower highs inside the short-term bearish channel. Medium-term trend remains bearish after the fake breakout at 1.14. So bulls need to recapture that price level in order to regain control of the trend.
Green line - support
Blue lines - bearish short-term channel
EURUSD is trading around 1.1250 above the 78.6% Fibonacci retracement.Trend remains bearish in the short and medium-term. For short-term trend to change to bullish EURUSD will need to make a 4 hour close above 1.1320. Medium-term trend will change to bullish on a weekly close above 1.14. So far bulls were unable to hold price above 1.14 and sellers remain stronger showing that they want to push price below 1.12.
