EUR/USD’s daily chart show signs of bull fatigue. The pair risks falling to a former hurdle-turned-support. EUR/USD is trading around 1.2130 at the time of writing, having failed to keep gains above 1.2160 multiple times during the previous two weeks. The pair had broken higher from the falling channel represented by trendlines connecting Dec. 4 and Dec. 7 highs and Dec. 9 and Dec. 11 lows last week, signaling a resumption of the rally from the Nov. 23 low of 1.18 and opening the doors to 1.22. The breakout, however, was short-lived, as the pair fell back below 1.21 on Friday. A failed breakout is widely considered a powerful bearish signal. That, coupled with the uptrend exhaustion signaled by the long upper wicks attached to several daily candles, suggests a potential for a drop to the former hurdle-turned-support of 1.2014 (Sept. 1 high). On the higher side, a convincing move above 1.2160 is needed to revive the immediate bullish view. 4-hour chart Trend: Bearish 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 Ripple Price Analysis: XRP bears stay hopeful inside two-week-old falling channel FX Street 2 years EUR/USD's daily chart show signs of bull fatigue. The pair risks falling to a former hurdle-turned-support. EUR/USD is trading around 1.2130 at the time of writing, having failed to keep gains above 1.2160 multiple times during the previous two weeks. The pair had broken higher from the falling channel represented by trendlines connecting Dec. 4 and Dec. 7 highs and Dec. 9 and Dec. 11 lows last week, signaling a resumption of the rally from the Nov. 23 low of 1.18 and opening the doors to 1.22. The breakout, however, was short-lived, as the pair fell back below 1.21 on… 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.
