Euro breaks a negative formation support – Technical Analysis – 03-11-2015

The EURUSD pair declined recently to exit the broadening wedge that appears on the above chart, to fall under its negative pressure, along with trading below the moving average 50, besides the negative divergence formed by stochastic after reaching the overbought areas.

Therefore, we expect the pair to decline on the intraday basis, targeting 1.0915 support as a main target of the mentioned pattern.