02.07.201916:17 Forex Analysis & Reviews: EURUSD no sign of reversal yet, trend remains bearish in the short-term

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EURUSD is trading right above 1.13 but I believe this bounce from 1.1275 is just a pause to the down trend. Price is expected to move lower towards 1.1250 where we will see a big test of the trend.

Green line - major support trend line

Red rectangle - target area of possible reversal

EURUSD is in a bearish short-term trend. Price is expected to move towards the red rectangle area and test the green trend line. EURUSD is at the 61.8% Fibonacci retracement of its last move higher, but I believe we might see price move a bit lower first before reversing. There is still no sign of trend reversal in the short-term, but I expect to see first signs of bullish divergence soon.

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