28.08.201914:27 Forex Analysis & Reviews: EURUSD remains in bearish trend but could see 1.0950 if support at 1.1050 fails to hold

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EURUSD remains below key resistance levels and continues to make lower lows and lower highs. Trend remains bearish despite the warning bullish divergence signs from RSI. No reversal signal yet.

Blue line - major resistance trend line

Green rectangle - support area

Red rectangle - target are if support area fails to hold price

EURUSD is trading right above the green support area at 1.1050-1.1075. Breaking below this level will push price towards 1.0950-1.0970. Trend in the short-term is bearish as long as price is below 1.1150 (recent local high) and 1.1175 (blue downward sloping trend line resistance). Only a break above this area will change trend to neutral. Recapturing 1.12-1.1250 will turn trend to bullish.

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