EUR/USD Technical Analysis: Euro above 1.1353 support is trading in a bear trend below its major simple moving averages ( SMA ) as bears broke below the 1.1402 figure .
This is a negative turn of events, but still in the bottom that pointed out previously, it’s a bit early to start shorting.
The Euro tried to rally during the trading session reaching towards the 1.15 level before turning around dropping once again. The candles look rough, but I do see several support levels underneath that could come back into lift this market. I think down below the 1.11 level though, then we could see trouble ahead. In the short-term, you should keep in mind that the market has been very difficult to deal with as news on Forex – Weekly Outlook: January 21 -25