EUR/USD slides toward 1.1417 as downtrend extends

EUR/USD is locked in a clean, uninterrupted downtrend, and the tape is offering no signal of exhaustion.

The pair has drifted lower on the session, trading inside a tight 1.145235 to 1.147385 range with a marginal daily loss that extends a week-long grind lower of more than 1%. Former supports at 1.15541, 1.15856 and 1.14172 have all been tested or surrendered over the prior seven sessions, with price continuing to print lower highs and lower lows. There is no fresh macro catalyst in the window, leaving the move driven entirely by positioning and technical flow.

The structural picture is unambiguous. Price sits below EMA20 at 1.14921, EMA50 at 1.15306 and EMA200 at 1.16192, with the full bear stack intact. Trend is aligned down across all three timeframes simultaneously, confirming this is not short-term noise. RSI is depressed but not yet at extreme oversold levels, and volatility remains calm, suggesting the drift can extend without a sharp short-covering spike to interrupt it. For a trend-following desk this is a textbook continuation setup: momentum leads, the path of least resistance is lower, and every reflex rally is a selling opportunity.

We sell into rallies targeting the 1.14799 resistance shelf first. Structural support at 1.14172 is the last meaningful floor; a daily close below it opens the next leg lower. A 4H close back above 1.14799 invalidates the bearish read and forces a stand-down.