EURUSD (1.1774): Although the EURUSD managed to post some gains towards Friday, price action stalled near the resistance level of 1.1822. Initial signs show a reversal at this level, but this could be confirmed only on a daily bearish close off the 1.1822 resistance level. The next support level is seen at 1.1688, followed by a decline to 1.1440. The decline to 1.1688 will mark the 161.8% measured move of the descending triangle. Thus, we could expect price action to potentially at this level before moving into a sideways range for the near term.
