Fan Yang
1
All posts from Fan Yang
Fan Yang in Fan Yang,

EUR/USD - Bears are in Charge

Outside of the intra-session volatility, EUR/USD remains bearish since retreating from the 2014 and March high of 1.3966. 


(EUR/USD 4H Chart)

Simply put the 4H chart shows
1) a break below a rising channel (bearish signal)
2) a new lower low and a new lower high (bearish development)
3) EUR/USD holding around 38.2% retracement (consolidation)
4) RSI tagged 30 but stayed below 60, a return below 40 would reflect bearish momentum development. (bearish development)

There is still downside risk toward the 50% and then 61.8% retracement levels.