EURUSD chalked up new losses last week after breaching the main upward short-term trend line as shown in the attached chart, with ongoing negative pressure from the SMA50, while the pair bounced higher modestly today, attempting to recover some ground, as relative power indicators reached relatively overbought levels compared to th pair's modest upward movement, indicating a venting-off of oversold saturation in order to return back downwards.

Therefore we expect more losses to come for the pair, targeting the pair 1.1174.

Trend Bearish