EURUSD: Sellers Lurking at Strong Daily Descending trendline!

Could this week be the week where we see the EURO push higher against the greenback? Its quite visible that the EURO is oversold and is resilient in dropping further. Therefore, a correction has long been on the cards, however looking at the bigger picture, this pair is still in a FALL. The descending daily trendline is quite clearly capping any further gains in the EURUSD. This might likely be the case again shall the price come near the trendline, we can expect it to fall to 1.11700 monthly support.

Have a look at the chart for a clear picture.

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