“¢ The pair struggled to extend its steady recovery from YTD lows, alongside an ascending trend-channel formation on the 1-hourly chart, further beyond 200-hour SMA.
“¢ The said channel, against the backdrop of the recent decline, seemed to constitute towards the formation of a bearish continuation – Flag chart pattern on the mentioned chart.
“¢ Technical indicators on hourly charts have also started drifting into negative territory and indicated that the recent corrective bounce might have already started losing steam.
“¢ A convincing break below the flag chart pattern, currently near the 1.1300 handle, will reinforce the outlook and turn the pair vulnerable to resume with its prior bearish trend.
EUR/USD 1-hourly chart
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EUR/USD
Overview:
Last Price: 1.133
Daily change: -2.0 pips
Daily change: -0.0176%
Daily Open: 1.1332
Trends:
Daily SMA20: 1.1379
Daily SMA50: 1.1515
Daily SMA100: 1.1566
Daily SMA200: 1.1819
Levels:
Daily High: 1.1363
Daily Low: 1.1271
Weekly High: 1.15
Weekly Low: 1.1316
Monthly High: 1.1625
Monthly Low: 1.1302
Daily Fibonacci 38.2%: 1.1328
Daily Fibonacci 61.8%: 1.1306
Daily Pivot Point S1: 1.1281
Daily Pivot Point S2: 1.123
Daily Pivot Point S3: 1.1189
Daily Pivot Point R1: 1.1373
Daily Pivot Point R2: 1.1414
Daily Pivot Point R3: 1.1466
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