EUR/USD: no any reversal pattern so far

EUR/USD: no any reversal pattern so far

2006eurusdh4 (1).png

There's no any reversal pattern so far, which means the market is likely going to continue declining. The main intraday target is the next support at 1.1500. A pullback from this level could be a departure point for an upward correction.

2006eurusdh1 (1).png

The 21 Moving Average is acting as resistance. Previously, we had a bearish 'Engulfing', which led to the current decline. In this case, the pair is likely going to test the nearest support at 1.1500 within the next few hours.

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EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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