EURUSD (1.1767): The euro gapped lower this morning following Friday’s bullish close. Any near term gains are likely to be limited to Friday’s close following which we expect to see the common currency push towards the main support level at 1.1710 region. Price action is seen maintaining the bearish bias on the 4-hour chart with the descending triangle pattern has been developing. A breakdown below the support could signal further declines to come.
