$EURUSD - Pullback Momentum building

20 Ağu 2017

The 4 hour chart looks to be way overextended to the upside since July and a pull-back maybe overdue as seen by eroding price action over the past two weeks. Price action inability to rebound above the declining trend line connecting prior peak at 1.1844 to 1.1794 level may lead to a bearish trend change. Looking for a retest at $1.1662 which would take it out of the channel range. Confirming this move would be a strengthening price in DXY, USDCHF.