In late September, Re-closure below the price level of 1.1700 has initiated downside-movement towards 1.1500 where some bullish recovery was witnessed.
Shortly after, another price decline took place towards 1.1200. Then the EURUSD has temporarily moved-up within the depicted movement channel until downside breakout occurred.
The EURUSD looked oversold while approaching the price levels of 1.0800. That's when an upside movement was initiated towards 1.1200.
This recent movement towards 1.1200 was suggested for another SELL opportunity which already reached its targets.
The previous ascending movement above 1.0600 enabled further advancement towards 1.0800 where evident bearish rejection could be applied.
On the other hand, the pair remains under selling pressure to re-visit the new daily low around 1.0350 where price action should be watched.
