Since April 19th we have seen a rapid fall in EURUSD. It has crossed below its 200 period (daily) Simple Moving Average which is an early sign of a downtrend.
However, 1.15500 has been a resistance/support line for the pair since 2015. This level may be a first real test of the downtrend.
Weekly Ease of Movement which is a function of Price and Volume has crossed below 0, indicating a bear market. If EURUSD crossed below 1.155 I believe a strong downtrend will be evident. Last time it broke that level, it rapidly fell down to 1.05.
You can take a short position now or wait for it to cross below 1.155 when it may be less risky.
However, 1.15500 has been a resistance/support line for the pair since 2015. This level may be a first real test of the downtrend.
Weekly Ease of Movement which is a function of Price and Volume has crossed below 0, indicating a bear market. If EURUSD crossed below 1.155 I believe a strong downtrend will be evident. Last time it broke that level, it rapidly fell down to 1.05.
You can take a short position now or wait for it to cross below 1.155 when it may be less risky.