EURUSD - Uptrend is bending, Signs of Reversal Emerge
As much as the dollar has been weakening, the dollar put up a good fight, successfully prevented breaking new low for the past 2 days.
Thus looking at the technical chart of EURUSD, there are clear signs that the uptrend might have ended its current cycle.
The break-below of the key rising trendline that has supported the price for the past 2 weeks is the major sign.
The subsequent break-below of other trendlines that's more current gave rise to the probability of reversal.
And now that the price has created lower low and lower high, it is a clear enough sign that either EURUSD may go for a reversal of a major pull-back of its current bullish trend.
Thus looking at the technical chart of EURUSD, there are clear signs that the uptrend might have ended its current cycle.
The break-below of the key rising trendline that has supported the price for the past 2 weeks is the major sign.
The subsequent break-below of other trendlines that's more current gave rise to the probability of reversal.
And now that the price has created lower low and lower high, it is a clear enough sign that either EURUSD may go for a reversal of a major pull-back of its current bullish trend.
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