fundermental analysis EUR/USD

The EUR/USD forex market on the daily chart formed a 2nd consecutive big bear bar closing below the Feb. 5 bottom of a 3-month trading range. This is now a confirmed breakout, which makes a measured move down to the Nov. 4 low likely.Can the EUR/USD continue the reversal back down to the low of the session? After such a strong rally in an extreme sell climax on the daily chart, the selloff will probably not get much below 1.19. The EUR/USD should be sideways to up for the remainder of the session.

The bulls want today to close near its high. That would increase the chance of higher prices tomorrow. If the week can close near its high, next week should be higher as well.