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EUR/USD: fake breakout above 1.098. A possible drop soon?

Short
Euro / U.S. Dollar (FX:EURUSD)  
Investroy  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Support and Resistance Parallel Channel EURUSD priceaction Technical Analysis forextrading investroy
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trendanalysis supportandresistance parallelchannel eurusd priceaction technicalanalysis forextrading investroy
The sentiment of EUR/USD still remains bearish, as the price keeps printing Lower Highs and Lower Lows. This morning, the price managed to spike above 1.098 zone of previous support later on turned resistance, which also acts as the resisting point of the previous lower-timeframe Lower High. However, it was not able to hold much longer above the local zone and it dropped all the way down below it after rejecting the 1.102 area of resistance. Furthermore, as it can be inferred from lower timeframe charts, a mini up-trending channel has been formed. We are expecting for the price to break the lower boundary of it and keep dropping all the way down till the 1.08 area.

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