EUR formed a bearish candle yesterday despite the dismal NFP report last Friday. Moreover, it closed below the descending triangle suggesting a continuation of the downward trend. Immediate support is seen at 1.11000 following 1.10500 and 1.10000 respectively. On the upside, a bounce toward 1.11500 and 1.12000 will give an opportunity for sellers to load up while keeping the triangle intact. Close above the triangle will invalidate the bearish play.
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