The EUR/USD failed to sustain a new high in yesterday’s (9/17) US trading session, when the market tested Friday’s 1.3169 high. There was a quick rejection there and the market fell under the 1.3120 intra-session pivot. In the previous update, I noted that a break below this pivot suggests further consolidation, and possible double top formation. The 1-hour chart shows that this pivot became resistance before the market completed the double top during 9/18 European trading. The 1H RSI reading is falling below 40, a sign that the bullish momentum in the short-term is lost. The 1H chart shows a double top breakout ... (full story)