EURUSD extended the sharp fall from 1.1466 (may 15, 2015 high) via the 1.1207 lower high (May 22) to reach 1.0818 (May 27, 2015) near 61.8% of the 1.0519/1.1466 rise where consolidation could potentially set in. 1.1007 (May 25, 2015 high) near the falling channel resistance then 1.1061 (May 20, 2015 low) may cap the bounces. Further weakness below 1.0818 would resume the downleg towards 1.0744 (76.4% of the 1.0519/1.1466 rise) and then 1.0665 (April 23, 2015 low). Outlook: Short term: bearish Long term: bearish