EUR/USD has been consolidating since November after it pushed into a new low for 2018 around 1.1215. During this consolidation, there was resistance around $1.15-1.1515. EUR/USD Daily Chart(click to enlarge)Bearish Signs:- First of all the prevailing trend is bearish and price is still under the 200-day simple moving average (SMA), and now even below the 100- and 50-day SMAs.- The 1.1515 resistance kept holding, which reminds us that bears are still in charge. - During the 1/2 session, the market again respected this resistance + the falling trendline resistance.- Furthermore, the RSI held under 60, which reflects maintenance of the bearish momentum.- Finally, the 1/2 candle was a bearish engulfing candle. - These are signs that there is more downside ahead towards 1.10.