Home EUR/USD Price Analysis: The pair completes te M-formation, eyes on downside continuation
FXStreet News

EUR/USD Price Analysis: The pair completes te M-formation, eyes on downside continuation

FX Street
Published date:
  • EUR/USD Bears looking to the 1.2000 level as price meets resistance.
  • A 38.2% Fibonacci confluence with structure puts focus on the downside. 

Further to the prior analysis, EUR/USD Price Analysis: Bulls looking for significant upside correction, the cross has indeed completed the M-formation as follows:

Prior analysis

Prior analysis, 1-hour chart

Live market, daily chart

Live market, hourly chart

Meanwhile, if the price breaks this current layer of resistance then the upside will be back in play. With that said, if the bears take back control, then a downside extension on the daily chart is in order:

Daily chart

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2026