- EURUSD’s each day chart exhibits a bullish-to-bearish pattern change.
- The pair dangers extending the current decline from 1.22.
The breakdown is backed by a below-50 or bearish studying on the 14-day Relative Power Index and has created room for a sell-off to 1.1750 (goal as per the measured transfer methodology).
Nevertheless, Tuesday’s candle carries an extended decrease wick, an indication of vendor fatigue. As such, the pair might consolidate the close to the neckline stage close to 1.2049 earlier than charting deeper losses.
A detailed above Tuesday’s excessive of 1.2088 would invalidate the bearish sample.
Day by day chart