EUR/USD fell 0.64 percent on Friday, validating the bearish inside day candle created on Thursday. An inside day occurs when the high and low falls within the price range of the previous day and is widely considered a sign of indecision. A bearish follow-through, preferably a close below the low of the inside day, is considered a sign of bullish-to-bearish trend change. On Friday, the spot closed well below the low of 1.1343 hit on Tuesday, confirming a bearish reversal. Hence, the path of least resistance is now to the downside and a deeper drop toward 1.1234 (Feb. 15 low) could be in the offing. That said, a repeated failure to penetrate 1.1280 (61.8% Fib R of 1.1176/1.1448) would weaken the immediate bearish pressure. As of writing, the pair is trading at 1.1298. Daily chart Trend: Bearish 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 Turkey’s Erdogan: Those who buy FX expecting lira to fall will pay ‘heavy price’ FX Street 4 years EUR/USD fell 0.64 percent on Friday, validating the bearish inside day candle created on Thursday. An inside day occurs when the high and low falls within the price range of the previous day and is widely considered a sign of indecision. A bearish follow-through, preferably a close below the low of the inside day, is considered a sign of bullish-to-bearish trend change. On Friday, the spot closed well below the low of 1.1343 hit on Tuesday, confirming a bearish reversal. Hence, the path of least resistance is now to the downside and a deeper drop toward 1.1234 (Feb.… 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.
