EURUSD Could Extend To 1.2900/1.2950 After Broken Support Line From 1.27

The EUR/USD reversed sharply lower yesterday from 1.3200, clearly in impulsive fashion beneath rising trend-line from 1.2745 and as well as wave B) swing low. This is a very clear bearish price action that should send prices even lower in minimum three waves, possibly to 1.2900/1.2950 in the next few trading days. Meanwhile, the pair must not get back above 1.3200 critical level, but could see a pull-back to 1.3110 where a broken trendline may become a resistance.

Forex Analysis by Gregor Horvat at ForexPros. com