I'm cautiously bearish on EURUSD for the short term. The RSI is below 40, which suggests further downside. I think we might see it test the S2 pivot around 1.1546. However, I'm also watching the news closely for any unexpected announcements that could shift sentiment.
Update: Considering the bearish trend, I'm also looking at the 20 SMA. It's acting as resistance around 1.1612, so any move above that level might invalidate my bearish outlook. I'm still holding back on making a position until I see more confirmation. Always gotta be careful!
