EURUSD The downfall continues

Following our analysis posted here 2 weeks ago and the ideal sell entry on the 1D MA50, we see no evidence of any trend change:


The Channel Down since January is intact and we are focusing this time on the 1W time-frame, where the 1W RSI may be oversold but being within a Triangle pattern and relative to where the previous Lower Lows of the pair's Channel Down where formed, there is still room to decline.

The only possibility of a reversal is if the price makes a Double Bottom on the 0.9950 Support. Then we can again turn to the 1D time-frame from short-term term formations that may break first above the Channel Down and then the 1D MA100 but until then, the trend remains bearish long-term within the Channel, aiming this time at a Lower Low on the -0.382 Fibonacci extension (0.96367).

Even the candle shapes appear to be similar with every prior start of sell-offs (orange circles) within the Channel Down.



--------------------------------------------------------------------------------------------------------

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------