EURUSD’s downside movement from 1.1175 extended to as low as 1.1016. As long as the price is below the bearish trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.0950 area. On the upside, a breakout of the trend line resistance would suggest that consolidation for the downtrend is underway, then the pair would find resistance at 1.1092, only break above this level could signal completion of the downtrend.
