The EURUSD broke through the upward trendline at the end of last year, due to USD strength. This downward move saw the formation of a bearish flag pattern during the first half of January.
The EURUSD has now broken the channel and the support level (61.8% Fibonacci retracement level) to signal a bearish continuation.
The target level could be the next support level at 1.0745
The EURUSD has now broken the channel and the support level (61.8% Fibonacci retracement level) to signal a bearish continuation.
The target level could be the next support level at 1.0745
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.