After failing to regain the 1.5060 yearly high, disappointed investors started a profit taking rally past American session that extended due to low volume holiday. Having printed a lower low on daily basis, break under 1.4910 should accelerate the downside and gave a quick rally to the 1.4860 area, before a corrective movement takes place. Forming a small continuation triangle in the hourly, and with 4 hours indicators bearish, technical studies support the bias.
Pair remains highly attached both to stocks and gold levels, so a downside movement there will also favor EUR/USD deeper corrective movement; on contrary, above 1.4980, pair should attempt to regain the 1.5020/30 area.
Pair remains highly attached both to stocks and gold levels, so a downside movement there will also favor EUR/USD deeper corrective movement; on contrary, above 1.4980, pair should attempt to regain the 1.5020/30 area.
