With the strong selloff today, EURUSD sideway mostly finished, the trend is determineddetermined : Downtrend.
Yesterday, I thought they would be more dovish, but the cautiousness made me to hesitate to engage a trade, this was my mistake.
However, I think there still has a room for SHORT. Let talk about
1.1100 is a very strong support. EURUSD hold above this level for two months.
A break below this level will open the door to next support.
Next strong support is at 1.100 while a real challenge is at 1.0800
I talked about the big in recent topic of EURUSD , today I see the pattern was broken.
SMA100 +SMA200 also are destroyed, EURUSD moved under those levels.
Kumo clould also cann't hold EURUSD above it.
More argument, indicator, the of also is broken.
Many signals confirm for continued downtrend.
Tomorrow, the main focus is Markit PMI; with recent weakness of data, most likely data would be negative and drag EURUSD lower.