Technical outlook and chart setups:
1. The EUR/USD pair has been consolidating between 1.3670 and 1.3500 since several trading sessions, as seen here. The pair could still complete its counter trend towards 1.3750/1.3800 levels if prices manage to break above 1.3670. Selling on rallies is recommended trading strategy.
2. Support is seen around 1.3500 (interim), followed by 1.3470 and lower, while resistance is seen at 1.3670 (interim), followed by 1.3750/1.3800 (fibonacci), and 1.4000 respectively.
3. The structure indicates that EUR/USD is in a broader bearish formation. A reversal is awaited either from current levels or 1.3750 levels.
Trading recommendations:
Selling rallies is recommended on a failure at 1.3670 or higher.
Good luck!
