The EUR/USD Bullish Trend May Be Getting Exhausted

Yesterday EUR/USD made yet another attempt to break out above 1.1700 and it even briefly climbed above that level, reaching a high at 1.1713 but it quickly bounced off that resistance and the pair is currently trading around 1.1640 – 1.1650. What is more, EUR/USD formed a very clear shooting star candlestick on the daily time-frame at the aforementioned resistance around 1.1700 – 1.1713. Considering all that, it appears that the overall bullish trend that has lasted for over a month now may finally be getting exhausted. If the pair breaks out below 1.1600 there could be a further move to the downside towards 1.1520, which is the (MA)89 indicator on the four-hour time-frame.