Sasha Singh
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EURUSD : About to Break Down Again !

(EURUSD : 4 hour chart)

EURUSD currently seems like testing the key support at 1.3684. On the 4 hour chart the pair is trading within a descending triangle right now which indicates that the pair might continue to follow the downtrend breaking the key support. Looking at the moving averages we can see that the 50 day moving average has moved down below other two 100 day and 200 day SMA giving a bearish signal. It seems to me that the pair might rally down below the support as in stochastic oscillator the %K line has crossed above the %D line signaling a downtrend continuation.