EURUSD – Daily Forex Technicals by ForexHound.com June 19th

EURUSD formed a bearish divergence  that confirmed a double top formation at the 1.5580 level and has already started to move lower. The pair has a strong support level at  1.5500 to break before we can see a bigger drop but so far the bearish bias looks solid. EURUSD formed a bearish divergence  that confirmed a double top formation at the 1.5580 level and has already started to move lower. The pair has a strong support level at  1.5500 to break before we can see a bigger drop but so far the bearish bias looks solid. This setup is reinforced by the fact that the 1.5580/90 area is also the 505 Fib retracement line of the bigger drop we witnessed earlier this month.

[NP][/NP]