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EURUSD approaching resistance, further potential drop!

Short
Euro / U.S. Dollar (FX:EURUSD)  
easyMarkets Broker  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns EURUSD EUR USD eurusdlong eurusdshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern eurusd eur usd eurusdlong eurusdshort forex forextrading forexsignals
EURUSD is approaching our first resistance at 1.2221 (horizontal pullback resistance) and a strong reaction might occur below this level, pushing price down to our major support at 1.2154 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias.

RSI (55) is also seeing a bearish exit and might be a good precursor for a further potential drop in price.

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