EUR/USD is trading 0.84% lower and has broken some strong support zones. The next major support is at 1.1695 and a break and close would be bearish. EUR/USD daily chart The dollar has had a broad-based recovery on Monday as the general risk tone in the stock markets is negative. This has in turn meant that commodities are also trading lower. NZD and AUD are the worst affected currencies but the EUR has taken a beating too. This I suppose cements the greenbacks safe-haven status during risk-off bouts. Looking at the chart, there is a rectangle type pattern forming and a break lower could confirm the bearish tone. The bottom of the pattern is at the consolidation support low of 1.1695 but the main support in the pattern has already been taken out. This would be the red support line in the chart and it has had the most touches and was firm for a long while. The indicators are firmly bearish at the moment. The Relative Strength Index is under the 50 line and there is still room to hit the oversold level. The MACD histogram is under the zero level. The signal lines are still above the midpoint but they could cross over at any point now. The chart is still in an uptrend but there are some major reversal signals. A break of the consolidation low would be the most important one as it would make a lower high lower low chart pattern. Additional 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 USD/CAD extends rally to fresh multi-week highs above 1.3300 FX Street 2 years EUR/USD is trading 0.84% lower and has broken some strong support zones. The next major support is at 1.1695 and a break and close would be bearish. EUR/USD daily chart The dollar has had a broad-based recovery on Monday as the general risk tone in the stock markets is negative. This has in turn meant that commodities are also trading lower. NZD and AUD are the worst affected currencies but the EUR has taken a beating too. This I suppose cements the greenbacks safe-haven status during risk-off bouts. Looking at the chart, there is a rectangle type pattern forming and a… 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.