home-logo

EUR/USD Bearish Waterfall Suggests Further Selling

thumbnail image

EUR/USD Technical Analysis

  • EUR/USD is dropping from the highs
  • The market is in a strong bearish trend
  • The break of the blue level is cueing for a continuation
  • The doors towards 1.1390 is open

DAILY CHART EUR/USD

  1. The high of the waterfall pattern
  2. A drop close to the blue zone
  3. Bearish entry zone
  4. Possible target
The EUR/USD on the daily timeframe is very bearish. The waterfall pattern suggests a strong bearish impulse and we should see the price moving don below the blue zone and towards the Q L3 camarilla pivot. At this point we could see a strong bearish impulse leading further down as we have back-to-back parallel bearish candlesticks. Targets are Q L3 camarilla pivot and M L4. 1.1485 and 1.1390.