The bullish “corrective” rally of EURUSD seems to be ended at the EMA 50 resistance of the Daily Charts. 1.17880 resistance worked well.

Harmonic Patterns sometimes really do their job very well. The Bearish Gartley worked well as predicted with the help of EMA resistance.

Markets will focus on U.S PPI figures and ECB President Draghi’s speech today. Another concern is the trade war tensions.

Technically:

EURUSD is pricing at 1.17230 as of writing.

On the daily chart, we can clearly see the bearish pressure as the pair holds below EMA 50.

1.17880 remains as the major resistance in the H4 Chart timeframe. The pair tested Fibonacci 38.20% of CD impulse after breaking the 1.17340 minor resistance, reversed upwards and retested the broken trendline.

1.17140 is the key level of today as EMA 200 in H4 Chart and Murrey Math Lines 0/8.

A break below 1.17100, may lead the price 1.17030 and 1.16800.

The real war will start at 1.16800.

Conclusion:

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EURUSD

Source: http://chartreaderpro.com/eurusd-forecast-day-corrective-rally-loses-momentum/

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