EUR/USD Is Testing the Support at 1.1400

The shooting star candlestick on the daily EUR/USD time-frame certainly had the expected consequences - the pair started moving to the downside and not even the announced US change in Non-farm Payrolls could change that. Currently the pair is testing the support at 1.1400 again, and a breakout below that level will likely lead to a further drop to the next support level at 1.1350. From then on there are two possible scenarios, in my opinion. EUR/USD will either break below the support at 1.1350 and continue falling towards the support at 1.1200, which coincides with (MA)89 on the daily time frame, or it will bounce off the aforementioned support to climb towards the resistance at 1.1600 and retest it.