EUR/USD: Bearish selling top in play
EUR/USD prints minor gains on Monday evening. The pair opened higher but slightly moved lover when the European session started. Point of Control level, once again, played an important resistance role and moved price lower towards the previous Daily low at 1.1712, as a potential bearish target.
Euro/dollar has slipped below the 50 Simple Moving Average on the four-hour chart after failing to recapture the 100 SMA. Moreover, momentum has turned back to the downside after several sessions on the upside. The Bears are looking stronger.