EURUSD - Bearish scenario

30 May 2016

Bears would be watching the price breaking the lower band of ascending channels this week. The current level should be considered lower low. The price is likely to correct to the most recent resistance, former support. This levels lies around 1.1200 area. Bears could enter short positions around that level. If the price prints higher high, the short setup would become invalid and short positions should be exited.

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