FX.co ★ EURUSD gets rejected once again at cloud resistance.

EURUSD tried to push higher earlier today as price moved towards 1.14. Price made a high at 1.1390 just above the 4 hour cloud resistance, but bulls were not strong enough to hold above the cloud. Price not only re-entered the cloud, but eventually broke below it once again.

EURUSD got rejected at the cloud resistance. Bulls tried to penetrate the cloud and push above it but they failed. This is a bearish sign. Bulls need to recapture 1.14. Until this happens, price is vulnerable to more downside. Support is at 1.1315. Breaking below this level will lead price towards 1.1260.