EUR/USD Technical Analysis: Bearish wedge continuing to firm up as Fiber sees downside from 1.1460

Over the past  twenty-four hours, the EUR/USD continued to struggle near medium-term resistance near 1.1460, and Monday’s bullish play fizzled as Greenback buyers stepped onto the scene, taking the Euro down from yesterday’s peak near 1.1550. The shortside remains the favourable position, unless Tuesday’s action sees EUR bidders mark in a return and drive the Fiber back into the 1.1500 region.

• EUR/USD analysis: dollar bulls seize every chance

EUR/USD, M5

The past week continues to confirm a bearish bias, with Monday’s chart action neatly rejecting the current downside trendline from 1.1550, and the previous support line from 1.1460 is threatening to turn into near-term resistance.

EUR/USD, M30

Over the past month, the EUR/USD has begun to shape up into a bearish wedge pattern, and rising potential for a firm break of the bottom of the pattern from 1.1460 will see the EUR/USD falling into new lows for 2018.

EUR/USD, H4

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