EURUSD opens inside the bearish structure
|The EU is still trading in a very structured market and now is testing a big inflection point. We have retraced back 76.4% of the last wave down and we have hit the 127.2% retracement of the first wave up of the pullback.
This fibonacci cluster confluences with a historic key level and the top of the bearish structure.
We have string bearish divergence on the 1h-4h time frames.
Should price break with the previous lows the rising pennant breakout would be in play.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.