Currency analyst

EUR/USD: bulls made a stop

On the daily EUR/USD chart the bulls failed to settle above the lower border of the bullish trend channel. If another attack on resistance at 1.1330 is successful, the risks of continuation towards 1.1415 and 1.1462 will increase. The nearest support levels are at 1.126-1.127 and 1.123.

On H1 EUR/USD the bulls failed to break resistance at 1.1313 from the first attempt, which would become a signal of a break in bearish trend. If another attempt to break higher fails at 1.1293 and 1.1313, the pair will form a "Head and shoulders" pattern. As a result, the pair may slide to 1.123 and 1.1206.

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