Red lines- bearish channel
EURUSD is trading around 1.0732. Short-term trend remains bearish as price continues making lower lows and lower highs. Price is inside a short-term downward sloping channel and the RSI has just reached oversold levels. From current levels the chances for a bounce have increased. A move towards 1.08 is highly probable. Resistance by the upper channel boundary is found at 1.0875. Bears remain in control of the trend.