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    EUR/USD: dominant down-trend likely to resume

       The EUR/USD pair has formed a bearish engulfing candlestick on the 4-hr chart after a temporary correction higher. This may signal the resumption of the dominant down-trend. Whatever the case the down-trend remains intact and likely to extend eventually.

    A break below the 1.0845 level would probably confirm a move down to the lower channel line and support situated at 1.0800.
    EURUSDH406

       
    The EUR/USD pair has formed a bearish engulfing candlestick on the 4-hr chart after a temporary correction higher. This may signal the resumption of the dominant down-trend. Whatever the case the down-trend remains intact and likely to extend eventually.

    A break below the 1.0845 level would probably confirm a move down to the lower channel line and support situated at 1.0800.
    EURUSDH406


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