Despite the bounce at the beginning of the trading session today, towards 1.0485, EURUSD is again under pressure and way off its highs. Price is closer to its daily lows, indicating that bulls remain weak. EURUSD has made a short lived bounce towards 1.05 and is now close to its weekly lows. Trend remains bearish. The RSI bounced but we see no sign of a bullish divergence yet. Until we see some bullish divergence signals, we expect EURUSD to continue lower below 1.04.
