EURUSD Broke The Trend line To The Downside

There is a downside breakout on the ascending trend line and price is below the weekly pivot (1.2125). As you see, price has reached to the trend line by 7 bearish candles which is much less than bullish candles in the last upside move and it means there is more downside pressure. IF price drops more towards the first support level we can make sure that it was not a fake breakout, then if it pulled back to the trend line and there was a strong push by bears, it would be a good area to go short and we can expect a drop around 1.1945.

Trade closed: target reached