j.Hejazi | EURUSD: Bearish Outlook

On the weekly and monthly time frames, EURUSD failed to break above the yearly trendline, which serves as a strong resistance. There was also rejection at the 100-week moving average and the 50% Fib level.
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On the daily time frame, the rejection was more clear with the presence of the upper line of the ascending channel and the 1.09000 resistance level, as well as a negative divergence on the MACD indicator.
If the price breaks down below 1.07650, which would also break the ascending channel, this will be a clear sign of a substantial move to the downside.

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channelbreakChart PatternsdollardollarindexEUREURUSDTechnical IndicatorsTrend AnalysisUSDDJ FXCM Index

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