Technical analytics

EURUSD market technical outlook

EURUSD

Daily chart:

Just an excellent bearish pin at the tip of upswing was received by the end of yesterday’s session (watch the yellow mark on the chart), that makes very likely the development of new downswing, which eventually will break the low 1.1300.


H1-chart:

Local structure also has visible signs of stopping and reversal of the uptrend - big decrease of the high and readiness to break the nearest low (1.1411). Thus, all says about preparation of euro decline for not less than 100 pips.


Conclusions:

Decline towards 1.1300.

Trading recommendations:

Shorts towards 1.1300.


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