If you have followed my posts on EUR/USD, you would know that I was pushing for a bearish outlook in the short-term. For the medium-term, this would be a regression to the mean type of trade. From the daily chart, we can see that price was retreating from a common range resistance area, and the 1.10 area would represent the middle of this range.EUR/USD Daily Chart 5/19(click to enlarge) We saw EUR/USD break a rising speedline last week. This week, it showed further evidence of bearish continuation in the short-term. It has reached my first target of 1.1250. My second target was 1.1150. The more aggressive target could be towards the 1.10 area. But I think even at 1.1150, we are already close to the middle of the consolidation range seen in the daily chart. Perhaps, with a convincing bearish action of late, I can move the second target towards 1.11. I would like to see EUR/USD establish another resistance pivot below 1.13 before I move my exit towards 1.11.