FX.co ★ EUR/USD

Yesterday, the euro/dollar pair attempted to gain value and tested the boundary of the price channel. However, it turns out that the bull is weak as the Marlin oscillator line moves below the lower boundary of its descending channel. Apparently, the pair’s upside momentum fizzled out. According to the 4-hour chart, the RSI indicator is below the previous ones, which indicates a further decline. Moreover, the Heiken Ashi indicator has turned towards the downside, signaling a new round of a bearish correction. Thus, the most likely scenario suggests a downward movement. I highly recommend going short, counting on a slide to the support level of 1.0834.