The EURUSD pair is trading in a falling channel pattern on intraday chart since 25th June 2019. The pair is likely to go down and hit the lower trend line of the channel as it recently faced a rejection from the key resistance area of 1.1054. Even before hitting the upper trend line of the channel, the currency pair reversed off as the bulls were completely overshadowed by the bearish momentum. Further, we expect a downside move, so the traders can take a short position with the first target at 1.0971 and the next target can be at 1.0904.
Stop Loss- 1.1091.