EURUSD downside bias is strong. A bearish reversal pattern (double tops) was completed today and the pair broke below key support at $1.3563. Next support is being held at 1.3520.
1H chart: Indicators are bearish – RSI fell to 30 and Stochastic is below its signal, currently below 10. Price action is below the Ichimoku cloud, which also indicates bearishness.
A daily close below 1.3540 will confirm that EURUSD has topped and will strengthen the bearish bias. A break above 1.3600 will cancel the bearish scenario.
EURUSD downside bias is strong. A bearish reversal pattern (double tops) was completed today and the pair broke below key support at $1.3563. Next support is being held at 1.3520.
1H chart:
Indicators are bearish – RSI fell to 30 and Stochastic is below its signal, currently below 10. Price action is below the Ichimoku cloud, which also indicates bearishness.
A daily close below 1.3540 will confirm that EURUSD has topped and will strengthen the bearish bias.
A break above 1.3600 will cancel the bearish scenario.
EURUSD 1H chart
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