Technical analysis of EURUSD

EURUSD Daily

Market is heading towards a bearish trend with the 21 and 55 moving average moving towards each other. Price is bearish with the 8 being above the 5 moving average. What i think will happen is that price will pull back at 1.1700 off support and head towards just below MPP at 1.1824 where i will sell it and where price will head towards 1.1605.

Source: MT4

EURUSD H4

Market is bearish with 55 above the 21. Price is going towards bullish. I expect price to come up to WPP/1.184 where i will sell expecting price to head towards the end of profit taking just before WS2/ 1.1605.

Source: MT4

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