EURUSD just had an impulse which tested the 1.17 support and we are now retracing, approaching the 0.5 and 0.618 levels, we have a resistance that was previous support between those 2 levels and a trendline pretty close too. We are bound to see reaction close to this levels since Fed conference is Wednesday. If the pair respect this levels we can see a continuation of this downtrend and a further test of the 1.17 support which we will be looking for a break. If we break this resistance (1.17500) and break the downtrend we might be looking for reversal in trends and a really good long in play. As always respect the market and be reactive. We see possible trades on a long and short.