EUR/USD is rebounding from the 5.17 to 5.27 sell off. Since hitting the 1.0818 low price has risen as high as 1.0958 and looks to close the US session today near those highs. There is a long standing support/resistance line in the 1.0990 area where price is moving to now. With price action bearish and under the 60 period moving average on the 8hr chart the EUR/USD pair have more selling to do.
There is a bearish pitchfork on the chart below which found the 5-28 bounce perfectly and now price is gravitating the median line. The confluence of the support/resistance line and the median would be an ideal location for a reversal. Ongoing Grexit and Brexit news hurts the Euro as well.
There is a bearish pitchfork on the chart below which found the 5-28 bounce perfectly and now price is gravitating the median line. The confluence of the support/resistance line and the median would be an ideal location for a reversal. Ongoing Grexit and Brexit news hurts the Euro as well.