EUR/USD is trading sideways at the price of 1.1283. Anyway, according to the H1 time – frame, we found potential end of the upward correction (running flat) at the price of 1.1333, which is a sign that buying looks risky. EUR failed to test the high at 1.1340, which is a sign that buyers are weak. We also found the breakout of the intraday support trendline inside of the running flat trendlines, which is another sign of weakness. We expect re-test of the lower diagonal and potential even the breakout.
Trading recommendation: We are bearish on EUR/USD from 1.1285 and protective stop at 1.1345. Profit targets are set at the price of 1.1233 and 1.1130.
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