EURUSD: The way down is open

EURUSD: The way down is open.

Last minute burning forecast 26.09.2017

Weak results from Merkel’s party during the elections in Germany caused the price of the EURUSD pair to hit a reversal. A breakthrough at important levels of 1.1860 and 1.1835 opened the way down.

There were different factors: fundamental — the weakening of the party and the government of Merkel, which is the foundation of the EU, and the technical — overdue correction after the 6-month strong growth of the EURUSD.

On the daily chart, a figure of the reversal type «triple top» pattern appears, which lasts a month. Operation of the figure — fixing the EURUSD rate below 1.1800.

The minimum goal based on the figure is 1.1660.

We sell from 1.1860 and also from 1.1890.

Downward movement cancellation signal — a breakthrough upwards at 1.2005.

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