Good morning, traders!
I hope you've traded successfully during the US confrerence yesterday. Today this morning I see the following scenario on EURUSD:
Look at the resistance line, marked red on the chart above. It started from the spike of 1.2962 during US news, followed by maximum level of late US session - round 1.3000. With the other support line it forms the descending triangle. Now lets zoom to the previous few hours:
EURUSD tried to get above major resistance line twice during the past hour, but that attempts were not successful. Also it stayed in the border of another channel. Now it went below the support line. Keep in mind that R1 pivot level for today is set @ 1.3041. If we stay below 1.3040 level, sell EURUSD.