in the last few weeks had broken higher after there was a bullish RSI
break to the upside. After a strong move up prices fully retraced the move and actually gave a BEARISH Hammer
pattern on weekly chart. With RSI
breaking the bullish
momentum we can see further decline in EUR.
EUR has been moving sideways for over moths now after completing a impulsive decline to lows of 1.05.
Sideways price action often unfold in the direction of the longer term trend which in this case is downwards.