FX.co ★ EURUSD breaking recent lows targeting 1.0950

EURUSD is trading at 1.1050 and looks very vulnerable to a move below 1.10 towards 1.0950. As long as price is below 1.1152 trend will remain bearish. There are bullish divergence signs but no reversal signal yet.

Green rectangle - support

Red rectangle -target if support fails to hold

EURUSD bulls remain weak. Price is breaking below the green support area and should continue lower towards the red rectangle at 1.0950. Trend is bearish. Resistance is at 1.1150 at the blue trend line. Bulls need to break above that trend line in order to hope for a short-term trend reversal to the upside. Bears remain in control of the trend for now.