The bullish swing that originated around 1.1650 in August, failed to push higher than the price level of 1.1900. That's why, another bearish pullback towards 1.1650 was executed.
However, extensive bearish decline has pushed the EURUSD pair towards 1.1600 and lower levels was reached.
Shortly after, significant bullish recovery has originated upon testing the price level of 1.1570.
The recent bullish pullback towards 1.1650-1.1680 was expected to offer bearish rejection and a valid SELL Entry.
The price levels around 1.1520 remain a reference zone that needs to be re-visited when the current bearish momentum ceases to exist.
