The price action on Monday tells me, at first look, that the EURUSD
should do a retracement for the next few days and then resume its run to the down side. I can not say exactly where the price will stop and then get back on track but the daily / weakly trend line
seems to be far away and lets the possibility of a bigger retracement to the up side. The price often likes to retrace and make a turnaround at an old pressure point (the green retangle).
That said, if the price breaks my blue trendline
I should review this idea of selling the euro
. Be careful this idea could be rushed ... look at the price action near the green retangle before taking any position.
For now my position for the medium and long term on this currency pair is bearish