On the EUR/USD daily chart, “bulls” failed to go out from the downward trading channel. The market is still “bearish”.
A breakout of the support at 1,104 can lead to the continuation of the downward movement towards1,096 or below this level.
The nearest resistance line is located near 1,1105.
On the EUR/USD hourly chart, “bulls” failed to hold quotes above the upper boundary of the downward trading channel. The formation of the “Shark” pattern can lead to the southward movement towards the convergence zone at 1,095-1,096.
Recommendation: hold short positions formed from the 1.1115 level.
Origin: FX BAZOOKA