Forex

? EUR/USD Downtrend Aims at 1.1450 After Pattern Breakout ?

June 21, 2018

2 min read

Christopher Svorcik

CEO

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? EUR/USD Downtrend Aims at 1.1450 After Pattern Breakout ?

Hi traders,

The EUR/USD is building a consolidation zone around 1.16 but a bearish continuation still seems likely when considering overall downtrend and bearish momentum.

EUR/USD

4 hour

The EUR/USD needs to break below the support trend lines for a bearish continuation. The main target is at 1.1450 which is a 50% Fib from the weekly chart.

1 hour

The EUR/USD is building a smaller consolidation triangle. A bearish breakout could be part of a wave 5 (purple).

Good trading,
Chris Svorcik
Elite CurrenSea

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