Euro, three days in free fall

On the daily chart of the EUR/USD we can see that the price has been dropping from the 1.1200 level during the last three days and it is reaching the 1.1000 level, completing a 200 pip drop. The price may try to stall or bounce back to the upside from the 1.1000 level, but if it does, then the 1.1100 level could act as resistance. Above the 1.1100 level, the price may be returning to the congestion area around the 1.1200 level. We must keep in mind that the bearish trend is still in place and the price may break below the 1.1000 level. In case the price breaks below the 1.1000 level, then it may try to go and visit the 1.0952 level.