EURUSD: End of Bearish Trend?

EURUSD, Daily

In the Daily timeframe, EURUSD has reached a critical support area and a global trendline after a sharp decline. DeMarker and %R indicate extreme oversold conditions, which makes two scenarios possible:

• A break of the trendline below 1.0780 will start a continued decline to 1.0700;

• A rebound from the trend line will start the long-awaited correction to 1.0900;