EUR/USD daily overview
Güncellendi
The common European currency continued its decline on Thursday against the US Dollar, as the currency exchange rate reached below the cluster of levels of significance near the 1.1680 mark.
On Thursday morning, the currency pair was heading for the lower trend line of a large scale triangle pattern. The trend line most likely will be reached at the 1.1620 mark.
Watch the trend line to see, whether it holds and forces the rate into a rebound or passes the support line and reaches for the monthly S1 near the 1.16 level.
On Thursday morning, the currency pair was heading for the lower trend line of a large scale triangle pattern. The trend line most likely will be reached at the 1.1620 mark.
Watch the trend line to see, whether it holds and forces the rate into a rebound or passes the support line and reaches for the monthly S1 near the 1.16 level.
Not
In the second half of Thursday’s trading session the Euro declined below the lower trend line of a dominant pattern against the US Dollar. Namely, the rate dropped below the support of the large scale triangle pattern.The move occurred in consistency with the junior descending channel pattern, which was revealed on Thursday.
In regards to the future, if the rate passes the support at 1.1580, it is set to fall down to the weekly S2 at the 1.1550 mark. However, the descending channel is too narrow to remain in force and a braking of its upper trend line might happen.
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