Trend is down in EURUSD fifteen minutes chart. Key resistance level is present at 1.1178 price area, based on most recent swing high in 15 minutes time frame of EURUSD. EURUSD pair did show strong bearish move in the previous session and it remains stable below 1.1178, thus, no change to the down trend environment as price action stays below 1.1178 resistance area, while its next main targets located at 1.1150 price level which is a round number.
Based on technical and fundamental analysis, price of EURUSD is most likely going to drop more and currency traders should consider taking a possible sell trading chance to join down trend. There was no major news announcement for the Euro on Monday. However; a clear bullish break out in price action above 1.1178 critical resistance area will end the down trend. In such a market scenario, it would be best not to trade EURUSD and re-analyze the 15 minutes chart price action.



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