as we can see by the chart earlier on this year EUR/USD was very bearish, following a bearish trend line as seen on the chart as the blue trend line. we eventually broke this level after finding some strength following a bullish trend line also seen on the chart as the blue trend line. however after breaking the bearish trend line we found heavy resistance at the purple zone, which EUR/USD could not break and clos above, we saw ourselves in a range between the purple zone and the purple line (1.08198) after breaking the bullish trend line EUR/USD led to a break and close below this support level supporting further downside. our weekly downside target for this pair is 1.01912. we have also placed our short position trade on the chart so you can see our risk to reward for this trade.