EUR/USD Technical Analysis: Bearish continuation – triangle pattern spotted on intraday charts

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   •  The pair now seems to have entered a bearish consolidation phase and was seen oscillating between two converging trend-lines, forming a symmetrical triangle on intraday charts.

   •  Given the pair's sharp overnight retracement slide from the 1.1400 handle, the contracting wedge would now be categorized a continuation of the latest leg of a bearish trend.

   •  Technical indicators on 4-hourly/daily charts have just started gaining negative momentum and now support prospects for the resumption of the prior depreciating move. 

   •  A convincing break through the triangle support, currently near the 1.1320 region, will reaffirm the bearish outlook and turn the pair vulnerable to break below the 1.1300 handle.

   •  The downward trajectory could further get extended towards the 1.1260-50 intermediate support before the pair eventually drops to multi-month lows, around the 1.1215 region.

EUR/USD 30-mins. chart


	EUR/USD Technical Analysis: Bearish continuation - triangle pattern spotted on intraday charts

EUR/USD

Overview:
    Today Last Price: 1.1337
    Today Daily change %: -0.04%
    Today Daily Open: 1.1342
Trends:
    Daily SMA20: 1.1339
    Daily SMA50: 1.139
    Daily SMA100: 1.1385
    Daily SMA200: 1.1506
Levels:
    Previous Daily High: 1.1388
    Previous Daily Low: 1.1309
    Previous Weekly High: 1.1422
    Previous Weekly Low: 1.1328
    Previous Monthly High: 1.1489
    Previous Monthly Low: 1.1234
    Daily Fibonacci 38.2%: 1.1339
    Daily Fibonacci 61.8%: 1.1358
    Daily Pivot Point S1: 1.1305
    Daily Pivot Point S2: 1.1268
    Daily Pivot Point S3: 1.1227
    Daily Pivot Point R1: 1.1384
    Daily Pivot Point R2: 1.1425
    Daily Pivot Point R3: 1.1462

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