EUR/USD Found Some Resistance at 1.1445

The last EUR/USD move to the upside lasted for several days but the pair finally found some resistance at 1.1445 where it formed a new high and bounced off that level after forming a very clear hanging man candlestick on the daily time-frame last Friday. Considering that candlestick as well as the subsequent doji candlestick and hanging man candlestick on the four-hour time-frame it is unsurprising that the move to the downside continues for now. The first target on the way down will likely be around 1.1345, and a breakout below that support could probably lead to another move to the downside towards 1.1270, which coincides with the (MA)89 indicator on the aforementioned four-hour time-frame.