EURUSD yesterday provided us with a new bearish signal. Price broke below support at 1.1535 and as expected, EURUSD is making new lows. EURUSD is trading near 1.1450. Price remains trapped inside a bearish channel.
Red line - support trend line
Support by the channel boundary is at 1.1360. Over the past few days we warned traders that a break below the red trend line would be a sell signal. As long as price stays below 1.1670 bears will remain in full control of the trend. The RSI is showing some warning signs to traders, but still there is no reversal signal.