EURUSD bulls are starting to look tired following last week’s rejection from 1.2040. Sellers even signaled their intent on Friday with a small yet significant bearish pin bar. Yesterday’s session encountered buying pressure right where we’d expect. The 1.1875 area capped the early August advance in concert with ascending channel resistance. It also helped support prices in late August and early September. As long as this channel is intact, the uptrend that began in April must be respected. However, this week’s price action is cause for concern if you’re bullish the EURUSD. Yes, 1.1875 support is still holding and ... (full story)