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EUR/USD Is This A Bearish Signal?

MultiBank Exchange Group
By MultiBank Exchange Group

We had a false breakout above the upper median line (uml) of the ascending pitchfork, price has come back to retest the resistance level. A rejection will send the rate towards the 1.1712 static support and towards the median line (ml). However, you should know that the perspective is bullish despite a minor decrease.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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