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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.
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