EUR/USD’s daily chart shows a bearish inside day candle. The 14-day RSI shows the rally is overdone. The pair could witness a pullback to the ascending 10-day SMA. EUR/USD fell by 0.31% on Tuesday, forming an inside day candle and snapping a seven-day winning trend that saw the single currency rally from 1.14 to 1.1781. Inside day is a candlestick pattern that forms after an asset has experienced daily price ranges within the previous day’s high and low. While the pair fell by 0.31% on Tuesday, it traded well within Monday’s high and low of 1.1781 and 1.1641. Essentially, inside day pattern represents consolidation or indecision and is considered an early warning of a trend reversal if it appears following a notable rally or sell-off. In this case, the inside has appeared at 22-month highs. That, alongside an above-50 reading on the 14-day relative strength index, suggests a temporary top has been made. The pair could pullback to the 10-day simple moving average, currently at 1.1579. At press time, the pair is trading largely unchanged on the day near 1.1725. Daily chart Trend: Pullback likely 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 EUR/NZD Price Analysis: Bullis in charge although downside remains compelling FX Street 3 years EUR/USD's daily chart shows a bearish inside day candle. The 14-day RSI shows the rally is overdone. The pair could witness a pullback to the ascending 10-day SMA. EUR/USD fell by 0.31% on Tuesday, forming an inside day candle and snapping a seven-day winning trend that saw the single currency rally from 1.14 to 1.1781. Inside day is a candlestick pattern that forms after an asset has experienced daily price ranges within the previous day's high and low. While the pair fell by 0.31% on Tuesday, it traded well within Monday's high and low of 1.1781 and 1.1641. Essentially, inside… 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.
