20 Jul 2016

EUR/USD DOWNSIDE BREAK

EUR/USD H4

The rate has made a downside break of the symmetrical triangle/wedge formation and is now testing the major psychological level at 1.1000.

This opens a way towards the 61.8% and  100% breakout targets at 1.0900 and 1.0820 and a medium term target at the lower boundary of the larger triangle range around 1.0600.

A break above 1.1160 would invalidate my immediate bearish bias for the pair.


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