EUR/USD Technical Analysis: Bearish continuation - triangle pattern spotted on intraday charts

   •  The pair now seems to have entered a bearish consolidation phase and was seen oscillating between two converging trend-lines, forming a symmetrical triangle on intraday charts.

   •  Given the pair's sharp overnight retracement slide from the 1.1400 handle, the contracting wedge would now be categorized a continuation of the latest leg of a bearish trend.

   •  Technical indicators on 4-hourly/daily charts have just started gaining negative momentum and now support prospects for the resumption of the prior depreciating move. 

   •  A convincing break through the triangle support, currently near the 1.1320 region, will reaffirm the bearish outlook and turn the pair vulnerable to break below the 1.1300 handle.

   •  The downward trajectory could further get extended towards the 1.1260-50 intermediate support before the pair eventually drops to multi-month lows, around the 1.1215 region.

EUR/USD 30-mins. chart