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   “¢   The pair now seems to have entered a bearish consolidation phase and was seen oscillating between two converging trend-lines, forming a symmetrical triangle on intraday charts.

   “¢   Given the pair’s sharp overnight retracement slide from the 1.1400 handle, the contracting wedge would now be categorized a continuation of the latest leg of a bearish trend.

   “¢   Technical indicators on 4-hourly/daily charts have just started gaining negative momentum and now support prospects for the resumption of the prior depreciating move.  

   “¢   A convincing break through the triangle support, currently near the 1.1320 region, will reaffirm the bearish outlook and turn the pair vulnerable to break below the 1.1300 handle.

   “¢   The downward trajectory could further get extended towards the 1.1260-50 intermediate support before the pair eventually drops to multi-month lows, around the 1.1215 region.

EUR/USD 30-mins. chart

EUR/USD

Overview:
       Today Last Price:  1.1337
       Today Daily change %:  -0.04%
       Today Daily Open:  1.1342
Trends:
       Daily SMA20:  1.1339
       Daily SMA50:  1.139
       Daily SMA100:  1.1385
       Daily SMA200:  1.1506
Levels:
       Previous Daily High:  1.1388
       Previous Daily Low:  1.1309
       Previous Weekly High:  1.1422
       Previous Weekly Low:  1.1328
       Previous Monthly High:  1.1489
       Previous Monthly Low:  1.1234
       Daily Fibonacci 38.2%:  1.1339
       Daily Fibonacci 61.8%:  1.1358
       Daily Pivot Point S1:  1.1305
       Daily Pivot Point S2:  1.1268
       Daily Pivot Point S3:  1.1227
       Daily Pivot Point R1:  1.1384
       Daily Pivot Point R2:  1.1425
       Daily Pivot Point R3:  1.1462