EUR/USD Technical Analysis

• Bearish rejection as analysed
• EUR/USD is very bearish
• Possible retest of order block
• W L5 has been reached

1. Bearish order block
2. Breakout
3. Retest
4. Target

The price is in downtrend. There is nothing bullish here. As shown in the previous analysis, the EUR/USD went exactly as expected. The Weekly target has been reached. As you can see in the picture the W L5 has been reached already 1.1546 and the price now is trying to go for a retest of a bearish order block.  If the market doesn’t break higher above the D H3, we should see another move down below the point 2, towards point 4. D L4 – 1482. Sell the rallies and keep the shorts running is the strategy to go with.