12:20 PM · 10 November 2020

EURUSD bulls give up

EURUSD is trading lower today. Looking at the M30 interval, we can see that the pair is trying to break below the key support area. The pair approached the 1.18 area, marked by previous price reactions and the neckline of the head and shoulder pattern. Breaking below could hint at a bearish shift to the sentiment. Pair found itself under additional pressure following today's disappoint ZEW release.

EURUSD M30 interval. Source: xStation5

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