Still looking for more downside on this FX Pair! EURUSD is still looking a little bit sick at the moment. Like in my previous articles this week it had reached the top of it's regression channel which tells me that it's fairly overbought still. With the last few bars in this chart you can see that price has stalled on 1.5010 area while momentum on the DCD indicator has started to gain and it is now above it's bottom envelope.

With EURUSD at the top of it's regression channel, current declining price and increasing momentum my short term bias is on the down side with a profit target of 1.4980 - Chart attached (Click read more)