Near Term Trend: Bearish
As of 6/18/2018 at 5:55AM EST: 1.15985
UPDATE: Last week, I suggested shorting bounces to 1.18731 with a downside target of 1.13425.
Last weeks rally in the euro halted near resistance and we saw a nasty decline on Thursday / Friday. That drop has the EURUSD nearing the lower edge of a head and shoulders channel near 1.15. A bounce could play out here ahead of further severe downside action.
Id cover shorts here and wait for bounce to 1.192 to re-short w/ stops above 1.20 and w/ ultimate tgt of 1.06.