Not much has changed since my last post. Over the weekend, we haven't seen any news or come up with anything that may suggest a swift recovery for the EURUSD. All the technical indicators and sentiments continue to suggest that EURUSD will go further down. The chart shared with you above has MACD and CCI, all of which point south. Therefore, it would be a safer bet to stick with the trend because "The Trend Is Your Friend."
Of course, I have highlighted two major support and resistance lines, and given the current position of EURUSD, and the fact that it dropped smoothly in the last few days, it is possible that it may bounce back up from here, test the previous resistance (the top one), and drop back down. If you aren't too sure how to trade during these times, I would recommend staying put till Tuesday to get a better idea of the market movement and the price action.
Of course, I have highlighted two major support and resistance lines, and given the current position of EURUSD, and the fact that it dropped smoothly in the last few days, it is possible that it may bounce back up from here, test the previous resistance (the top one), and drop back down. If you aren't too sure how to trade during these times, I would recommend staying put till Tuesday to get a better idea of the market movement and the price action.