Price is currently in a tenuous location, leaning hard on 250sma support (purple line) but finding resistance from the 25% tine of the pitchfork. Potential H/S or inverse cup w/handle forming.
Above EURUSD 1.37 gives range for a test of the midfork and would negate somewhat any bearish connotation to this chart.
Below 1.35 on a daily close could bring sharp selling. Possible neckline break with MM down to mid 1.32's where the .382 fib retrace sits.
Expect the EURUSD to range trade between 1.35 and 1.37 until one of those prices are broken on a daily close.
Above EURUSD 1.37 gives range for a test of the midfork and would negate somewhat any bearish connotation to this chart.
Below 1.35 on a daily close could bring sharp selling. Possible neckline break with MM down to mid 1.32's where the .382 fib retrace sits.
Expect the EURUSD to range trade between 1.35 and 1.37 until one of those prices are broken on a daily close.
