EURUSD: Reverses Gains, Looks To Decline Further.
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EURUSD: With a reversal of its correction now underway further weakness is expected. This leaves a return to the 1.3000 level on the cards. However, its correction off the 1.3415 level has not ended yet leaving the risk of further downside on the cards. Below here will aim the 1.2900 level and then the 1.2850 level. On the other hand, the pair will have to recapture the 1.3254 level to signal an end to its corrective weakness. This if it occurs will set the stage for more upside towards the 1.3318 and then the 1.3415 level. Above here will resume its broader upside towards the 1.3450 level. All in all, EUR continues to face bear threats on correction.