EUR/USD:DOWNTREND|PRICE ACTION+FUNDAMENTAL ANALYSIS|SHORT 🔔

EUR/USD continues its bullish impulse within the Bearish Channel. While today the UOB Group analysts note that EUR/USD could rise to 1.1835 in the coming weeks, the price seems to approach this price level right away. At the Technical level we can see how all the indicators are in favor of the immediate decline. The average 200 sma is above the price and the stochastic indicator in Overbought with divergence. The same goes for the indicated CCI which is located in Overbought from different sections. The Ichimoku Kinko Hyo Cloud maintains its bearish trend. Last but not least, we point out the formation of a Shark harmonic pattern, where to insert a possible limit order. We continue to believe in an immediate decline in this pair.