EURUSD recently reversed down from the resistance area lying between the pivotal resistance level 1.12000 (which has been reversing the price from last August), upper daily Bollinger Band and the resistance trendline of weekly down channel from 2018. The downward reversal from this resistance area stopped the previous sharp correction 2. With the moderately bearish sentiment affecting the Euro at the moment and the daily Stochastic still in the overbought territory – EURUSD is likely to fall further toward the next support level 1.11000 (former top of the earlier short-term correction 4 from the end of January).