We have taken out the range highs here on EURUSD
. That means that the stops have been triggered and essentially, a daily stop run has taken place (look at how long price spent above the range highs and then fell again). I would be looking at a close below 1.1020 to suggest a further move downwards sub-1.0800, but the clearance of the range highs and a sharp move away gives great evidence that a move downwards is highly likely.
Form your own opinions.
Not to be taken as investment advice.