Technical outlook:
EURUSD has carved a major top around 1.2010 early this month and followed up lower through 1.1750 levels thereafter. It has a confirmation that trend might have reversed and that selling on rallies might be considered a better strategy. The single currency pair is seen to be trading around 1.1875 mark for now and is expected to turn lower soon. Immediate resistance is seen through 1.2010, while support is around 1.1700 respectively. The boundary which is being worked upon is between 1.2010 and 1.1750 levels respectively. EURUSD already reached its fibonacci 0.618 retracement at 1.1915 last Friday. It is quite possible that it turns lower from here or after testing 1.1920 levels, in the next few trading sessions. The downside potential remains towards 1.1300 levels.
Trading plan:
Remain short stop above 1.2010, target is open.
Good luck!