EUR/USD has charted a bearish reversal pattern on the daily chart. A close below 1.1770 would confirm the trend change. EUR/USD is trading near the head-and-shoulders (H&S) neckline support of 1.1770 at press time. A close below the support line would confirm H&S breakdown or a bullish-to-bearish trend change and open the doors for 1.1530 (target as per the measured move method). The pair has already dived out of a trendline rising from May 14 and July 10 lows. The bullish trendline’s downside break is backed by a below-50 or bearish reading on the 14-day relative strength index. As such, a head-and-shoulders breakdown looks likely. The bias would turn bullish if the pair rises above 1.1918 (Sept. 10 high). Daily 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 AUD/NZD: Sell on rally towards 1.09 – JP Morgan FX Street 1 year EUR/USD has charted a bearish reversal pattern on the daily chart. A close below 1.1770 would confirm the trend change. EUR/USD is trading near the head-and-shoulders (H&S) neckline support of 1.1770 at press time. A close below the support line would confirm H&S breakdown or a bullish-to-bearish trend change and open the doors for 1.1530 (target as per the measured move method). The pair has already dived out of a trendline rising from May 14 and July 10 lows. The bullish trendline's downside break is backed by a below-50 or bearish reading on the 14-day relative strength index. As such, a… Top 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.
