The path of least resistance is defined and remains southwards, reading from the candlestick arrangement in the daily chart. Traders looking for entries should search for short opportunities in lower time frames. This applies if prices are below the critical resistance levels of $1.0760 and $1.0850 in the short and medium term. Even so, the rapidity of the sell-off has been decreasing in recent days as bear bars diverge from the lower BB. It could imply that the trend downside momentum is fading, dampening volatility.

Every attempt higher in the EURUSD chart, below the $1.0750 resistance line, could offer an entry for aggressive sellers angling for a retest of $1.0500. As it is, the candlestick arrangement strongly favors sellers who appear to be setting their eyes on March lows. Besides the alignment along the lower BB, the past few candlesticks have closed with long upper wicks showing that sellers have quashed all attempts for higher highs. As EUR breaks down lower in lower timeframes, traders could search for riding the trend.

The short-term trend favors sellers. Resistance remains at $1.0760, and it is yet to be seen whether bears will press on, forcing prices below $1.0700 primary support. The doji bar on May 26 points to indecision and volatility. After sharp losses in the past two weeks, the euro will likely bounce back, closing above $1.0760. Still, if this pans out depends on how prices react at $1.0760 in the short term. A sharp, high-volume close could see the euro edge higher. If not, losses mirroring the recent pattern could heap more pressure on the euro, sending it toward $1.0500.

Bears dominate, and EURUSD is in a breakout formation, confirming last week’s losses. Moreover, bear bars are riding the lower BB suggesting strong selling momentum. For now, traders can look for shorting entries on lower time frames as long as prices are below $1.0760. Based on the EURUSD candlestick arrangement, the medium-term bear target remains at $1.0500 unless a sharp, high-volume expansion reverses recent losses and drives prices above $1.0850.

After a pause, EUR crashed on May 24, forcing prices below $1.0760 in a bear breakout formation. Yesterday’s bar was wide-ranging and had decent volumes, supporting sellers. Going forward, traders may look for shorting entries on every attempt higher, below $1.0760. Notice that the selling momentum is high as bars ride the lower BB, and the medium target of $1.0500 seems viable.

The sharp drop on May 24 shows that USD bulls are firmly in control. Prices are now trending lower, retesting last week’s lows meaning every attempt higher may be an opportunity to double down. Notice that bear bars are riding the lower BB. It points to intense liquidation pressure. Therefore, with prices dropping, traders may ride the trend as long as $1.0850 or May 18 highs hold. The short-term target is $1.0500, or March 2023 low.

Price action remains tepid, with no strong push above or below critical levels. Given the sharp drop of last week, sellers have the upper hand. Therefore, traders can look for shorting entries on every attempt toward $1.0840. However, if bulls push, and the expansion is bullish, engulfing with an uptick in volumes, euro could rise towards $1.0950 in the short term. Conversely, any drop below $1.0760 and last week’s lows may draw more sellers, confirming last week’s losses. In that case, the euro may drop toward $1.0500 in the days ahead.

The path of least resistance is southwards. All the same, the rejection of lower prices on May 19 could spur demand. In lower time frames, the euro edged higher in the NY session with expanding volumes. At this pace, this could spill to today, propping the euro and reinvigorating bulls targeting $1.0850. If today’s close is above May 18’s high, the euro may recover towards $1.0950 in the days ahead in a possible correction. Conversely, any drop below last week’s low opens up the euro for a potential fall to $1.0500 in a bear trend continuation pattern.

Sellers are in the driving seat, and USD bulls are unrelenting. This formation is as expected as aligned in the weekly chart where sellers are confirming last week’s losses. Moreover, bear bars are riding the lower BB, which remains diverged from the 20-day moving average, indicating intense selling pressure and high volatility. At this pace, and if today ends up lower, USD bulls may look to sell even more as long as prices are below $1.0850—or May 18 highs. In this case, the immediate target will be March 2023 lows at $1.0500.

The sell-off continues, and USD bulls appear unrelenting. With the sell bars banding along the lower BB, price action suggests that bears have the upper hand with increasing momentum. As such, there could be unloading opportunities in lower time frames, provided prices are trending below $1.0940. At this pace, the euro may drop even below $1.0730, especially if prices easily slip below yesterday’s lows at around $1.0810.