EUR/USD edges lower around 1.1870 amid a quiet start to the week’s Asian session trading on Monday. The major currency pair snapped a four-day uptrend on Friday, posting the bearish spinning top candlestick. The candle formation also gains support from a bearish cross of the 200-day EMA over 50-day EMA, suggesting further weakness of the quote. However, MACD flashes bullish signals and hence the pair bears are waiting for a clear signal. As 1.1830 offers immediate support to the quote, a downside break of which will direct EUR/USD towards the previous month’s low near 1.1750 and firm-up bearish bias. Following that, ... (full story)