EURUSD is still in very strong downtrend and it migh be just a pause before it will start to make new lows.
Once it have tried to indicate a reversal pattern, but unfortunaly failed and made new lows and started to move side ways in the large range of 300 pips which could be a Bearish Flag and at the moment price is flirting with this Bearish Flag support line and SHS Neck line which can push the price to the new lows once it breaks. it's very hard to say which direction the price will go even the price is moving very sharply to the down side at the moment, but as we can see, it makes the same moves to the upside as well.So we can not rely on the momenutm for sure until the price will break this channel to the downside or uspide.
Once it have tried to indicate a reversal pattern, but unfortunaly failed and made new lows and started to move side ways in the large range of 300 pips which could be a Bearish Flag and at the moment price is flirting with this Bearish Flag support line and SHS Neck line which can push the price to the new lows once it breaks. it's very hard to say which direction the price will go even the price is moving very sharply to the down side at the moment, but as we can see, it makes the same moves to the upside as well.So we can not rely on the momenutm for sure until the price will break this channel to the downside or uspide.