EURUSD (1.1574): The EURUSD currency pair formed an outside bar yesterday with the intraday gains failing to hold. The currency pair closed on a bearish note. The declines came following Draghi’s comments from Portugal where he reiterated his comments from the recently held ECB meeting. Price action was seen to be steady above 1.1539 level of support for the moment. On the 4-hour chart, the EURUSD broke out to the downside from the bearish flag pattern only to retrace the losses rather quickly. Still, a close below the previous low at 1.15594 could suggest further declines.
