Falling channel: After falling sharply during the 2/7 session, EUR/USD found support just under 1.34. This price action forms a falling channel as it bounces from the falling support seen in the 1H chart. During the 2/8 session so far, EUR/USD is consolidating around the 1.34 handle in what appears to be a flag pattern so far. The 1HRSI is coming back up, and if the market is bearish, it should hold under 60. Price action in the short-term is now bearish, unless there is a break above the falling channel and above the 200-hour SMA which is at 1.3540 at the moment. With the short-term bearish trend developing, there ... (full story)