EUR/USD is expected to decline
After the recent fundamental events and releases a broader review of the EUR/USD currency pair was conducted on Thursday. Namely, all previous patterns were deleted and a fresh look was taken at the situation to capture the new fundamental information.
It was discovered that the currency pair is trading in massive scale descending pattern, in which there exists a long term ascending channel. In the medium pattern a descent is taking place in a channel down pattern.
Meanwhile, note that recently the pair bounced into a strong resistance cluster, and it has almost no support down to the 1.1640 mark.
It was discovered that the currency pair is trading in massive scale descending pattern, in which there exists a long term ascending channel. In the medium pattern a descent is taking place in a channel down pattern.
Meanwhile, note that recently the pair bounced into a strong resistance cluster, and it has almost no support down to the 1.1640 mark.
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