- Tuesday's inverted bearish hammer bolstered bearish setup.
- EUR/USD risks falling to a three-month rising trendline.
EUR/USD risks falling to support of the trendline rising from Oct. 1 and Nov. 29 lows.
The pair carved out an inverted bearish hammer on Tuesday, as it faced rejection at 1.1118 and ended on a negative note.
That candle has reinforced the bearish view put forward by the lower highs setup created over the last two weeks. Also, the pair closed below 1.1085 (Jan. 10 low) on Tuesday, establishing a lower low.
The pair, therefore, looks set to test the rising trendline support at 1.1067. A violation there would expose 1.1040 (Dec. 6 low).
On the higher side, a close above the Jan. 16 high of 1.1173 is needed to invalidate the lower highs set up and confirm a bullish reversal.
|Today last price||1.1085|
|Today Daily Change||-0.0002|
|Today Daily Change %||-0.02|
|Today daily open||1.1087|
|Previous Daily High||1.1118|
|Previous Daily Low||1.1086|
|Previous Weekly High||1.1173|
|Previous Weekly Low||1.1086|
|Previous Monthly High||1.124|
|Previous Monthly Low||1.1002|
|Daily Fibonacci 38.2%||1.1098|
|Daily Fibonacci 61.8%||1.1106|
|Daily Pivot Point S1||1.1076|
|Daily Pivot Point S2||1.1065|
|Daily Pivot Point S3||1.1044|
|Daily Pivot Point R1||1.1108|
|Daily Pivot Point R2||1.1129|
|Daily Pivot Point R3||1.114|
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