EUR/USD to Breakout to Downside? - FXStreet
Valeria Bednarik,
chief analyst at FXStreet explained that from a technical point of
view, the pair is on a brink of a downward breakout, barely holding
around the 61.8% retracement of its latest daily bullish run at 1.1370.
Key Quotes:
"In
the 4 hours chart early attempts of advancing were contained by a
bearish 20 SMA, whilst the technical indicators head modestly lower
below their mid-lines, lacking momentum amid the intraday restricted
range. Nevertheless and as long as the price remains unable to recover
above 1.1420, the risk is towards the downside, with scope to test the
1.1280/1.1300 price zone."
