- EUR/USD's daily chart shows a bear flag breakdown – a bearish continuation setup.
- The pair risks falling to the psychological support of 1.20.
EUR/USD looks south, with the daily chart reporting a bearish continuation pattern.
The pair ended Monday with a 0.18% loss at 1.2049, confirming a downside break of a bear flag identified by trendlines connecting Feb. 5 and Feb. 17 lows and Feb. 11 and Feb. 25 highs.
The flag breakdown represents a continuation of the sell-off from the Jan. 6 high of 1.2349 and indicates scope for deeper declines below 1.20.
The 14-day Relative Strength Index is also reporting a bearish bias with a below-50 print.
|Today last price||1.2039|
|Today Daily Change||-0.0006|
|Today Daily Change %||-0.05|
|Today daily open||1.2045|
|Previous Daily High||1.2101|
|Previous Daily Low||1.2028|
|Previous Weekly High||1.2243|
|Previous Weekly Low||1.2065|
|Previous Monthly High||1.2243|
|Previous Monthly Low||1.1952|
|Daily Fibonacci 38.2%||1.2056|
|Daily Fibonacci 61.8%||1.2073|
|Daily Pivot Point S1||1.2014|
|Daily Pivot Point S2||1.1984|
|Daily Pivot Point S3||1.1941|
|Daily Pivot Point R1||1.2088|
|Daily Pivot Point R2||1.2132|
|Daily Pivot Point R3||1.2162|
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.