EURUSD remains in a bearish trend. However the downtrend is weakening. Price continues making lower lows and lower highs, but the RSI is not making new lower lows. The bullish divergence is an important warning for bears.
Black line - resistance
EURUSD is below the key short-term resistance trend line. The trend line is found at 1.0870. The RSI is diverging. This is a warning. This implies that a bounce higher is very probable over the coming days. At least a move towards 1.0870 is expected until Friday. A relief bounce from bears taking profits is expected. At current levels I believe downside potential is limited.
