The EURUSD attempted to push lower yesterday, bottomed at 1.4527 but closed higher at 1.4583. Although bearish correction seems limited now, on h4 chart below we still have a valid bearish channel and the pair still able to move below 1.4595 for now, indicating bearish correction remains valid testing 1.4440 area. However price is now testing the upper line of the bearish channel and struggle around 1.4595 which could be a critical technical point at this phase. A violation to the bearish channel and failure to keep moving below 1.4595 could be a potential threat to the bearish correction and aim for 1.4720 and 1.4850 before targeting 1.5000.
Join the Discussion