EUR/USD has been trading downwards as we expected. The price tested the level of 1.1181. We still expect more downside on the EUR. Main target is set at the price of 1.1118

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Blue rectangle – Support became resistance (1.1205)

Pink rectangle- support 2 (1.1118)

Blue lines – Broken upward channel

EUR/USD has been trading in strong downward mode. Broken upward channel and new momentum on the MACD oscillator are signs that sellers are in control. Our advice is to watch for potential selling opportunities. The major downward target is set at the price of 1.1118. Resistance levels are seen at 1.1209 and 1.1246.We didn't find any sign of reversal yet, so selling on the rallies looks like a good strategy.