EURUSD currency pair recently reversed down from the resistance area lying between the pivotal resistance level 1.16650 (former monthly support level from the middle of August), upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from the start of September. Given the strongly bearish euro sentiment seen today and the strong daily downtrend– EURUSD currency pair can be expected to fall further in the active impulse wave (iii) toward the next support level 1.15700.
