EUR/USD remains inside the bearish channel. Price back tested the broken short-term blue support trend line and got rejected. As long as we trade below 1.1545 we should expect a move towards 1.14-1.1420.
I believe we are in the final stages of the decline from 1.18 and we should find a tradeable bottom and reversal signs around 1.14-1.1420. If we do not fall towards my target and instead break above 1.1545, we should consider the decline complete and we should not expect to see below 1.14 for at least a few weeks. My minimum expectations are for a rally that will last a few weeks towards 1.19.
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