EUR/USD started a fresh decline and traded below 1.0150. EUR/JPY is attempting a recovery wave and might rise if it clears 139.50.
Important Takeaways for EUR/USD and EUR/JPY
· The Euro started a major decline from the 1.0250 and 1.0280 resistance levels.
· There is a short-term contracting triangle forming with resistance near 1.0145 on the hourly chart.
· EUR/JPY also started a major decline below the 140.00 and 139.50 support levels.
· There is a key bearish trend line forming with resistance near 139.20 on the hourly chart.
EUR/USD Technical Analysis
The Euro failed to clear the 1.0280 resistance against the US Dollar. The EUR/USD pair started a major decline below the 1.0220 and 1.0200 support levels.
There was a clear move below the 1.0150 level and the 50 hourly simple moving average. The pair even settled below the 1.0180 level. A low was formed near 1.0107 on FXOpen and the pair is now consolidating losses…More info: blog FXOpen