EUR/USD (Downtrend continues!?)
EUR/USD during the recent month was in a strong downtrend that sellers were successful in achieving the lowest price of 1.23600.According to the formed price movements in the chart, there is a Gartley harmonic pattern between the bottom price of 1.23600 and top price of 1.26000 that warns about descending of the price.Currently according to the condition of this currency pair and its strong downtrend in recent months, price is in saturation sell area and warns about a slight reformation in weekly time frame.
Right now, the price is trying to the green supportive level to reform itself and then start its ascending movement, but because of the pressure of the selling and powerful descending trend(Down trendline + harmonic pattern), this try has not been successful yet. The least sign for ascending of price is formation of a bottom price and recording of it in H4 and daily time frames.
Technical Analysis of EUR/USD Dates 2014.11.28
EUR/USD Technical Analysis
Written by the technical team of PipSafe Company
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