EURUSD closed below the first support line confirming the bearish sentiment of the market

EURUSD significantly weakened last week, when sellers finally seized the initiative, using the results of the ECB meeting. Bears pushed the price below the key support at 1.1670. However, this scenario has long been evident in the market, as well as the implementation of the reversal figure "head and shoulders", which has not yet completed the implementation process. In the light of the development of bearish scenario, we are moving to a more bearish market for EURUSD. Therefore, now it is worth considering sales, while prices are under the previous resistance level of 1.1700-1.1711. We expect lower market prices for EUR/USD. Look for upward pullback to go short. The first support is located around 1.1485

Trading recommendations - sales on the upside and at the level of 1.1670

AUDUSD - the market is testing an important support level around 0.7660

The Australian dollar also weakened significantly last week, closing near the key support level of 0.7660. This strategic level constrained market growth throughout 2016 and throughout most of 2017. The level is serious; somewhere here passes the 50th moving average on weekly chart, capable of supporting the market. If the level is broken and the market moves lower, the Australian dollar expects a medium-term decline. In addition, the market is oversold and a corrective pullback is very probable. We assume corrective growth and an upward pullback to the 0.7720-0.7740 zone. Careful longs of AUD / USD with short stops can be an interesting strategy for earning.

Trading recommendations-longs at the level of 1.1670 with targets 0.7750

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