EURUSD confirms bearish reversal

In our previous analysis of EURUSD we showed you the following chart, stating that the stage is set for another decline.
eurusd 1.7.14It seems that EURUSD is going according to plan so far with the pair confirming this scenario by making a smaller impulsive wave to the south on the 30-minute chart.
eurusd intraday confirmationSo, in the longer term the pair is definitely showing some bearish signs. However, there is enough evidence to expect a small three-wave rally now  on the intraday charts, because after every impulse, a correction follows. Furthermore, there is the typical RSI divergence between waves 3 and 5, which indicates for a temporary loss of inertia. This means, that prices could return to the zone around 1.3640 before the downtrend in EURUSD resumes.

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