EURUSD under bearish pressure after the pair previously reversed down with the daily Japanese candlesticks reversal pattern Bearish Engulfing from the pivotal resistance level 1.19000 (which has been repeatedly reversing the price from the start of September, as can be seen below) – standing near the upper daily Bollinger Band. The downward reversal from the resistance level 1.19000 started the active impulse wave (3). Given the rising bearish euro sentiment seen across the FX markets today, EURUSD is likely to fall further toward the next support level 1.16260 (former monthly low from September – which also reversed the price at the end of last month).