EUR/USD looks to be forming a head-and-shoulders pattern on the hourly chart. A move below1.1695 would confirm a breakdown. EUR/USD’s bounce from Monday’s low of 1.1696 looks to have run out of steam above 1.1760 in the last few hours. If the currency pair falls back to sub-1.17 levels, a head-and-shoulders pattern would be formed on the hourly chart. Acceptance under the neckline support at 1.1695 would imply bearish reversal on the hourly chart and open the doors for 1.1481 (target as per the measured move method). On the higher side, Monday’s high of 1.1797 is key resistance, A move above that level would validate the dip demand near 1.17 and restore the immediate bullish view, possibly leading to a re-test of Friday’s high of 1.1909. Hourly chart Trend: Bearish below 1.1695 Technical levels 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. View All Post By FX Street FXStreet News share Read Next S&P 500: Futures catch a breather around multi-week top below 3,300 FX Street 3 years EUR/USD looks to be forming a head-and-shoulders pattern on the hourly chart. A move below1.1695 would confirm a breakdown. EUR/USD’s bounce from Monday’s low of 1.1696 looks to have run out of steam above 1.1760 in the last few hours. If the currency pair falls back to sub-1.17 levels, a head-and-shoulders pattern would be formed on the hourly chart. Acceptance under the neckline support at 1.1695 would imply bearish reversal on the hourly chart and open the doors for 1.1481 (target as per the measured move method). On the higher side, Monday’s high of 1.1797 is key resistance, A move… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
