EUR/USD has been trading upwards at the price of 1.1098 but I saw strong rejection and potential for more downside. A lot of Fibonacci confluence levels are set around the price of 1.1100, which is sign that there is still more potential for downside.
My advice is to watch for selling opportunities due to rejection of the multi Fibonacci node and strong resistance at 1.1100. Good level to place stop will be at 1.1120. Downward targets are set at the price of 1.1055 and 1.1032.
Stochastic oscillator is showing overbought condition and fresh bear cross, which only adds more confirmation to my bear view.
