EURUSD: The ever narrowing range is now coming close to the apex point so something’s soon got to give way. As earlier elaborated the best fitted pattern, the bearish contracting range/triangle, calls for a downside break. One step closer to a bearish solution was perhaps taken yesterday with the pair being rejected from the former floor (now acting resistance) of the June falling parallel bear channel. More bearish pieces of evidence to be posted breaking 1.1334 hence ending the recent week’s pattern of rising lows.
Read the full report: Technical Alert