EUR/USD-Rounding Top Pattern Boosting The Bears.

May 24, 2018

 

EUR/USD has made fresh low of 2018 after optimistic stance of FOMC as FOMC says next rate hike will likely be soon and US dollar strengthens due to FOMC and Euro is unable to find the support against dollar. As we have mentioned in our last week report that sell this pair as long as US dollar getting strength. The pair is declining and heading towards south side. On technical ground, a rounding top pattern has been formed on daily chart and providig strenght to the bears, well the way bears are reacting it seems like they are approaching the 1.1500 level in short term.

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