EUR/USD and EUR/CAD subsequently defeated 21-month and 8-month trend line, which may be a signal for bears to continue weakening of the single currency – at least in relation to the US dollar and Canadian.


EUR/USD struggles with 1.0600

During Thursday’s trading session Eurodollar not only unsuccessfully tested support/resistance at 1.0710-1.0700 height, but also closed below the 21-month trend line drawn at higher lows from the beginning of last year. For bears it is another encouraging signal to continue the sale – which is continued for the tenth session.

EURUSD Breaks Support
EURUSD Breaks Support

EUD/USD D1 overcomes the next important support

EUR/CAD resistance at confluency

October brought a test in the form of a very long pin bar, who pushed the price up to 1.50. On the day of the presidential elections in the USA variation on this pair was almost 700 pips, the session ended with a  failed test lof evel of 1.50 and highs from August-November. The result is a powerful pin bar that pushed price by another 400 pips down to the trend line drawn at a higher lows from November this year.

EURCAD daily Large Bearish Pin Bar Push Price Down
EURCAD daily Large Bearish Pin Bar Push Price Down

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