EUR/USD Dropped Today

The fundamentals today pushed EUR/USD to the downside and the pair dropped with over 150 pips, from 1.1890 to 1.1728. What is more, the signals on the four-hour time-frame were also an indication that there could be a move to the downside, as the pair had formed an obvious shooting star candlestick at the aforementioned resistance at 1.1890, as well as a number of spinning top candlesticks slightly below that level. The pair is still very bearish and it will likely continue moving to the downside at least for now. The closest target is probably the (MA)89 indicator on the same four-hour-time frame, which is at 1.1690. That said, the current drop does not necessarily mean that the long-term move to the upside is over, as the overall trend remains bullish.