Bearish price momentum for EURUSD

Tough economic conditions in the Euro Zone despite the soften recent bounce back from Q1 and Brexit Chaos have put a lot of downward pressure momentum on the Euro which is reflected by the over trend on the Daily timeframe.

On the 1 hour chart, bearish signals show up by
- Bearish flag at the 5th EW
- Three Black Cros breaking the 0.618 level
- Death Cross of EMA 55 - 200

Price target for a short position
1.1150 range lower range
1.1178 stop loss range
Risk/reward ratio 5.2