EURUSD Technical Bearish Outlook

FX:EURUSD   Euro / U.S. Dollar

EURUSD             might have another leg down before making some upmove
after bouncing the Daily resistance or Monthly resistance.

My RSI shows me some more breath-space is available before
continuing downwards, also Fib. confims this.

At this page( http://fxbootcamp.com/cot-forex-data/ ) you can see, under euro             that the majority of traders are dramatically short(wich is the faded red line) against the traders who are long(wich is the faded grey line).
Major trend reversal may still be in play but its to early to definitly tell as it is still trying to get up to the 200 DMA.

Vranken Vranken
Here to you can see on the RSI and MACD that it still has a downleg potential
Vranken Vranken
How my Monthly channel got drawn.

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