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EUR/USD triangle points to a likely down day
EUR/USD is selling off from both trendline and moving average resistance. The pair continues to trade within a descending triangle formation, which is typically bearish.
The 20-period SMA (four hour) has been respected a number of times in the past, and with the price remaining within the bottom half of the Bollinger band, it is likely that it will again push towards the lower band and support levels between $1.113 and $1.111. A move back above $1.121 would invalidate my short-term bearish view.