EURUSD:A descending triangle with 1.08637 as an objective?
Yesterday, the EurUsd failed again to settle above its Major resistance area, which is highlighted on the chart. It fell back below its major resistance area, as soon as it touched the its blue trend line. The Parity is still facing a strong selling pressure around its blue trend line. The EurUsd is currently in an descending triangle, which has 1.08637 as an objective, and 1.13234 as a rejection level.
On a daily scale, the patterns suggest a retreat towards 1.11118, with 1.11568 as a primary objective, should the parity breaches 1.11735. An upward movement, though less probable, will send the parity to 1.12575, with 1.12366 as a primary objective.
The daily Pivot Point is around 1.12159. The daily support levels are around 1.11425 and 1.11002. The daily resistance levels are around 1.12582 and 1.13316.
On a daily scale, the patterns suggest a retreat towards 1.11118, with 1.11568 as a primary objective, should the parity breaches 1.11735. An upward movement, though less probable, will send the parity to 1.12575, with 1.12366 as a primary objective.
The daily Pivot Point is around 1.12159. The daily support levels are around 1.11425 and 1.11002. The daily resistance levels are around 1.12582 and 1.13316.
