FXHighway
Short

EURUSD: Negative formation supports more decline

FX:EURUSD   Euro / U.S. Dollar
375 2 5
Target: 1.0400 - 1.0000
Risk: 1.0815

Technical Reasons:

The EURUSD             pair completed drawing double top pattern by breaking 1.0720 level, to get more support to the continuation of the bearish trend inside the main descending channel .

The exponential moving averages 50 and 100 puts negative pressure that supports the negative trading, and the price might head to retest the broken neckline affected by stochastic and MACD current positivity.

Breaking 1.0460 level will open the way to extend the bearish wave to approach from 1.0000 areas.


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Good luck mate
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FXHighway Technician
Thanks mate ,,
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