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EUR/USD indecisive at crucial support level
EUR/USD continues to show indecision at the $1.0819 support level, which represents the double top neckline. A notable close below this level would bring a completion of the double top and thus would create a projected target of $1.017.
The last three four-hour candles have come in the form of hammers, which shows the inability of the pair to sustain any losses. This is to be expected given the significance of this level. However, often a major level will be tested multiple times prior to a break and thus I am not ruling it out.
For now, I am waiting to either see a close below $1.0819 to continue the bearish view, or else a move above $1.087 for a more bullish outlook.