EURUSD down channel to continue, target 1.085 ultimately

EURUSD has been on a strong down-channel for nearly 2-years now and it's respecting the market structure and confluence that it is forming for the moves lower. Just recently the top of the channel and strong resistance based on the structure was hit at 1.1105, from there a long extended doji wick formed which identifies the sell pressure coming into the market. We can expect a move lower off this resistance down to 1.099 at first then through down into 1.09.

Disclaimer: This idea is for educational purposes only, this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.