EURUSD, May 10th 2014

After Mario Draghi's dovish statement, this pair has made a large false break and also a bearish engulfing pattern at key resistance [1.39338] and on the next day the price easily violated the key support which now become the near-term key resistance at 1.37924. If price holds below this near-term resistance, we could see another large drop to the next key support at 1.37. Look for sell signal at near-term key resistance to join recent bearish momentum.