EURUSD is poised for a bearish move. What comes next?

[TradingPuzzles]

EURUSD is poised for a bearish move. What comes next?

The pair made a false breakout above the resistance zone around 1.1830, but quickly fell back below, showing weakness. This bearish movement happened after the FOMC meeting. The FED is expected to cut rates 2 more times this year. Probably everything was already priced in advance as long as the price is moving down. It's required to confirm a bit more but so far remains bearish.

From our previous analysis the first target at .1729 was reached and EURUSD is set to drop further.

If selling pressure continues, the next supports are 1.1670and 1.1610.

As long as EUR/USD stays under 1.1830, the bearish outlook remains valid.

You may find more details in the chart!
Thank you and Good Luck!

[jacson4]

Nice call First target hit at 1.1729 — looks like more downside is coming.

[Nahid10]

That false breakout above 1.1830 was a clear trap. Bears are in control now.

[TradingPuzzles]

@Nahid10 Today yes:) EURUSD down