EUR/USD forms a negative pattern - Technical Analysis - 27-01-2016
EUR/USD oscillated in a tight range of trading in the intraday levels, accompanied by positive support from the SMA50, with the pair hinting at the forming of a negative technical pattern in the short term, the Rising Wedge pattern, as shown in the attached chart, along with an influx of negative signals from relative power indicators.
Therefore we expect the pair to fall, especially if it broke through the support of that forming technical pattern, targeting thereafter the support of 1.0788.
Trend
Bearish