EUR/USD slides toward 1.1417 as downtrend stays fully aligned

EUR/USD is pressing the lower edge of its daily range with every timeframe pointing the same direction and no meaningful bid yet materialising.

The pair has shed over 1.5% across the past week, with the session range compressing between 1.142255 and 1.14306. A sequence of prior resistance levels — including 1.14799, 1.15541 and 1.15856 — have all been broken and converted into supply, leaving the tape structurally offered.

From a trend-following perspective the setup is textbook. Price trades well beneath EMA20 at 1.14691, EMA50 at 1.15132 and EMA200 at 1.16111, with the full moving-average stack ordered bearish top to bottom. Trend is aligned down across all timeframes, confirming the dominant direction without ambiguity. RSI has reached oversold territory, which for a momentum trader is a caution flag on timing rather than a reversal signal — deeply trending markets can remain oversold far longer than mean-reversion desks expect. Volatility is calm, suggesting the drift lower is orderly rather than panicked, which supports continuation over a sharp snap-back. The 1.14172 support level is the next test; prior context shows it has held once before, making it the key near-term pivot.

We lean short and sell any rally into the 1.14172–1.14691 zone, with EMA20 as the ceiling for entries. A daily close above 1.14691 invalidates the call and forces a stand-down.