EURUSD dropped to 1.3208 before the market open in New York on Thursday, on weaker-than-expected euro zone sentiment data. The pair previously reached a session high of 1.3261 at the European market open. A break below the Ichimoku cloud on an hourly basis may open doors to further drops to the 1.3150 area.
On a daily basis, the pair seems to be shaping a triangle, which is a continuation pattern. Considering the pair was previously on an uptrend, we could be expecting long-term gains, up to the 1.35 area. Any drops should be supported at 1.26155.
By Kiana Danial