EUR/USD Is Moving to the Downside

EUR/USD is moving to the downside after it formed a shooting star candlestick on the four-time frame-frame, as well as a shooting star candlestick and a hammer candlestick on the daily time-frame, all below the resistance at 1.1350. The pair broke below the support at 1.1300 – 1.1280 despite the doji candlestick that had formed above those levels of support on the four-hour time frame. Next target is likely 1.1230, which coincides with (MA)89 on the same time-frame, and a possible breakout below that level could lead to a further drop towards the next significant level of support around  1.1200 – 1.1180. We should also keep in mind that on Friday we can likely expect significant volatility due to the speech FED Chair Janet Yellen will give at the Federal Reserve Bank of Kansas City Economic Symposium in Jackson Hole.