EURUSD has fallen for five consecutive days Bearish.
Looking at the daily chart, the move saw price expand below its downtrend line currently at 1.1300 and the 61.8% retracement of the move from the March 23 low at 1.12876. However, these breakouts have since been retraced with the price currently trading above the 1.1300 to 1.1310 level. Some cash purchases / profit taking.
Looking at the hourly chart, the high correcting the low peaked at 1.13315. That’s still below its 38.2% retracement of the downward movement this week which stands at 1.13389. Price moved into positive territory for the day above 1.13195, but has since fallen below.
Looking at the daily chart, the move saw price expand below its downtrend line currently at 1.1300 and the 61.8% retracement of the move from the March 23 low at 1.12876. However, these breakouts have since been retraced with the price currently trading above the 1.1300 to 1.1310 level. Some cash purchases / profit taking.
Looking at the hourly chart, the high correcting the low peaked at 1.13315. That’s still below its 38.2% retracement of the downward movement this week which stands at 1.13389. Price moved into positive territory for the day above 1.13195, but has since fallen below.