EUR/USD Breaks Below Contracting Triangle, Bearish Signs
EUR/USD slipped below a contracting triangle pattern with support at 1.1595 on the 4-hour chart, showing bearish signals as it trades under the 100- and 200-period simple moving averages.
EURUSD
The EUR/USD pair declined further, breaking below a contracting triangle formation on the 4-hour timeframe. Support was located at 1.1595.
The pair now exhibits bearish momentum, trading below both the 100-period (red) and 200-period (green) simple moving averages on the 4-hour chart. This technical setup suggests potential for additional downside.
Source: FXStreet Forex News