Retracements before continuation of downward trend.

EURUSD has been on a sideways movement since last week. With major news this week, we begin to see some strength in USD as the markets grapple with economic and earnings news, likely to be not so good for the markets in general.

Expecting the retracement from Monday's push downwards to the 680s and 690s range and if it holds in this area, the downward trend will continue to the previous week's lows.