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EURUSD establishes below 1.08 after brief consolidation; downside remains in focus

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro remains under pressure and probes again below strong 1.08 support zone, daily Ichimoku cloud base / higher base and floor of one-month consolidation range. Yesterday’s trading left another daily bearish candle, but with long shadows, signaling hesitation at pivotal 1.08 support. Today’s fresh weakness signals renewed downside pressure, which requires close below 1.08 handle to confirm daily failure swing pattern and open way for further retracement of 1.0519/1.1058 upleg. Daily

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