EURUSD climbed steadily last week but faced strong resistance as it reached the top of the major range.
At the same time, a bearish bat was formed which attracted strong selling and now the price is revisiting the bottom again.
As the current bearish trend has just begun, or probably halfway, the price is most likely to fall further.
Therefore, we can first wait for a selling opportunity again should the price retraces upward to somewhere closer to the supply zone around 1.0950.
Whereas if the price continues to fall and reach the bottom, it is most likely going to range first before it starts to rebound and form another bullish trend.
At the same time, a bearish bat was formed which attracted strong selling and now the price is revisiting the bottom again.
As the current bearish trend has just begun, or probably halfway, the price is most likely to fall further.
Therefore, we can first wait for a selling opportunity again should the price retraces upward to somewhere closer to the supply zone around 1.0950.
Whereas if the price continues to fall and reach the bottom, it is most likely going to range first before it starts to rebound and form another bullish trend.
