The EUR/USD extended to new lows for the week. The The decline appears to be sitting at the a short-term declining trendline support as we gear up for the 9/26 US trading session. The 4H RSI has remained above 40 since the rally started late July, but is now finally falling below 40, indicating the loss of bullish momentum. As the EUR/USD continues to slide in the falling wedge pattern seen in the 4H chart, it is approaching a rising trendline that use to be resistance until broken on 9/7. The daily chart shows the EUR/USD’s correction against a rally that started 7/25 from 1.2042. The rally initially respected ... (full story)