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26.09.201709:40 Forex Analysis & Reviews: EURUSD: The way down is open

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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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