Just an idea and trade at your own risk.
EURUSD remains bearish on all timeframes and especially after last month closing below past two months.
EURUSD been trading between the descending triangle pattern (yellow lines) on the daily timeframes with failure to break the strong support (demand zone - red highlighted area) around 1.0370-1.0400.
Correction is on way towards the resistance zone (green highlighted area) 1.0520-1.0550 of the upper pattern channel.
A breakout and close below the pattern, will confirm the downtrend continuation to the down channel of the downtrend (white lines) into parity levels.
A break and close above the pattern, will confirm a reversal and possible bullish movement at least towards 1.08 area.
EURUSD remains bearish on all timeframes and especially after last month closing below past two months.
EURUSD been trading between the descending triangle pattern (yellow lines) on the daily timeframes with failure to break the strong support (demand zone - red highlighted area) around 1.0370-1.0400.
Correction is on way towards the resistance zone (green highlighted area) 1.0520-1.0550 of the upper pattern channel.
A breakout and close below the pattern, will confirm the downtrend continuation to the down channel of the downtrend (white lines) into parity levels.
A break and close above the pattern, will confirm a reversal and possible bullish movement at least towards 1.08 area.
