EurUsd- Bearish both on short and medium term
In my last EurUsd analysis I said that I expect the pair to drop to 1.14 zone support in the medium term and the break under 1.17 support bring confirmation for this scenario.
Last week, EurUsd has made a new local low at 1.1560 and, as normal, the pair has corrected some of the losses.
However, the rise from this low has formed a flag formation which gives us reasons to expect continuation to the downside.
The short term support is around 1.1585, and a break here could lead to a new low under 1.1560