EUR/USD: Forecast: Possible Short

Here is what to expect on the EUR/USD

RECAP:

In our last analysis on last Friday EUR/USD was trading at 1.21130
We expected the pair to continue to fall to at least 1.20800 before a reversal back to the 1.21 zone
Bullish Cypher had formed on the 1H chart signaling a reversal
The pair did exactly as we expected and triggered our new buy stop at 1.21250 and hit our TP at 1.21400 enabling us to bank 300 pips over 20 positions.

WHAT TO EXPECT:
Currently at 1.21282
We expect the pair to retrace back to 1.20800 as we expect the DXY to be bullish this week
We expect support at 1.20800 and a reversal for the pair back to the upside.
If the pair breaks below the 1.20800 - 1.20600 support zone we expect the pair to further decline to 1.20000

On the other hand if the pair breaks resistance at 1.21400 we expect the pair to go back to 1.22 zone

OUR POSITIONS:

Currently @: 1.21282
Buy Stop @: 1.21550
Buy Stop TP @: 1.21750
Resistance @: 1.21800
Sell Stop @: 1.21100
Sell Stop TP @: 1.20900

Link to our previous analysis below