The EUR/USD saw Bearish action Wednesday tapping a low at 1.1156.
The bias is Bearish near term testing support at 1.1130, price is still moving inside a triangle formation indicating consolidation mode.
A clear break below the triangle and support at 1.1130 could trigger more Bearish pressure testing to 1.1080, Key support is seen around 1.1000 – 1.0950 which remains a good place to buy with a tight stop loss.
1st resistance is seen at 1.1200. A clear break above that mark could lead to Neutral near term testing at 1.1300.
The potential daily range Thursday is between 1.1130 – 1.1300.
Again, overall technical outlook is Neutral, standing aside.
Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technical trader