EUR/USD: primary trend remains bearish

EUR/USD: primary trend remains bearish

2019-11-11 • Updated

2-8-2018-EUR-4.png

The primary trend remains bearish. However, the price is still consolidating in a range of the developing 'Triangle'. The main intraday target is the next support at 1.1601 - 1.1590, which could be a starting point for an upward correction.

2-8-2018-EUR-1.png

The last 'Pennant' pushed the price lower. At the same time, it's likely to have an upward correction during the day. So, if a pullback from the nearest resistance at 1.1637 happens next, there'll be a moment to have another decline.

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