The euro currency is in trouble on a technical basis after slipping to a fresh weekly price low against the US dollar below the 1.1850 area. The four-hour time frame shows that a bearish head and shoulders pattern is activated while the price trades under the 1.1870 area. According to the overall size of the bearish pattern a drop towards the 1.1770 area could be on the horizon.
The EURUSD pair is only bullish while trading above the 1.1900 level, key resistance is found at the 1.1930 and 1.1970 levels.
EURUSD pair is only bearish while trading below the 1.1900 level, key support is found at the 1.1830 and 1.1770 levels.
