EURUSD:A descending triangle with 1.08637 as an objective?

FX:EURUSD   Euro Fx/U.S. Dollar
Yesterday, the EurUsd             failed again to settle above its Major resistance area , which is highlighted on the chart. It fell back below its major resistance area , as soon as it touched the its blue trend line . The Parity is still facing a strong selling pressure around its blue trend line . The EurUsd             is currently in an descending triangle , which has 1.08637 as an objective, and 1.13234 as a rejection level.

On a daily scale, the patterns suggest a retreat towards 1.11118, with 1.11568 as a primary objective, should the parity breaches 1.11735. An upward movement, though less probable, will send the parity to 1.12575, with 1.12366 as a primary objective.

The daily Pivot Point is around 1.12159. The daily support levels are around 1.11425 and 1.11002. The daily resistance levels are around 1.12582 and 1.13316.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out