FX.co ★ EURUSD below 1.18 challenges major support.

EURUSD is trading once again below 1.18 after reaching as high as 1.19. Our target of 1.1945 was not reached and price is now challenging the bullish scenario.

EURUSD is approaching once again the weekly support trend line coming from 1.17. In previous posts we talked about the potential head and shoulders pattern that will be activated if price breaks below 1.1750. So as long as price is above 1.1750 bulls still have hopes. If the 1.1750 price level is broken we will get a bearish signal.