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EUR/USD Bearish Triangle Breakout

EUR/USD Bearish Triangle Breakout

Fundamentals:

  • Powell’s testimony on monetary policy was quite optimistic pointing out the recent inflation readings are encouraging
  • On the euro side, we will have June inflation figures.
  • On the USD side, Housing Starts and Building Permits will be released.

Technically:As seen on the H4 Chart, EUR/USD is breaking out the Bearish Triangle. The price moved below EMA 50 and EMA 100.

1.16270 is the first support. 1.15980 and 115670 and 1.15380 will be the next target of the pair.

This analysis prepared by the global analysts of Chartreaderpro.com and published on Investing.com. Commercial distribution is strictly prohibited.

EUR/USD H4 CHART

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