Currency analyst

EUR/USD: bulls showed weakness

On the daily EUR/USD chart one may see that the attack of the bulls have spluttered. The inability of the bulls to hold the pair above 1.1175 points at their weakness. Whether it's temporary or we are speaking about the resumption of bearish trend will become clear in the coming days. For now the pair's falling to the upper border of the previous bearish channel (23.8% Fibonacci of the last medium-term bearish wave).


On H1 EUR/USD completed Fakeout-Shakeout and "3 Indians" pattern. The nearest resistance is near 1.1170, support levels are at 1.1114 and 1.1080.


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