EUR gained some strength after the positive readings in manufacturing PMI.
The support rests at 1.19460 with resistance at 1.20050 which both lines are below the weekly pivot point at 1.21570. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is showing upward momentum and the MACD line is on the signal line in the neutral territory. The ADX is not showing any clear signals.
If the correction pattern starts the price will rise towards 1.215 otherwise, EURUSD will continue its bearish trend towards 1.18.