EURUSD triangle breakout leaves risk for support tests
A more negative tone Tuesday with a break below modest support at 1.3588/85 and better foundations at 1.3575 to shift the short-term outlook this week to decidedly more negative within the broader range.
We still only see a more sustainable directional tone on a break from this range we see defined by 1.3503 and 1.3700.
- Into midweek, the bias is lower, for a push to 1.3535 and 1.3513 props.
WHAT CHANGES THIS?
Downside: Below 1.3503 sets a more bearish theme to target 1.3477 and 1.3400
Upside: Above 1.3700 aims for 1.3730/35 and 1.3770/75.
4 Hour EURUSD Chart
Daily EURUSD Chart