EURUSD: Breakout causes price decline
Updated
Hello everyone,
EUR/USD continues its downward trend and is still being hindered below the 1.0800 level. Currently, the price is trading in a bullish recovery trend with the aim of correcting the previous sharp decline, but it is still limited below the EMA 34 moving average technical indicator, which is at 1.07750.
In the current scenario, I expect EUR/USD to retest the resistance level mentioned above before any selling pressure occurs. My target is 1.0740, followed by 1.0720.
EUR/USD continues its downward trend and is still being hindered below the 1.0800 level. Currently, the price is trading in a bullish recovery trend with the aim of correcting the previous sharp decline, but it is still limited below the EMA 34 moving average technical indicator, which is at 1.07750.
In the current scenario, I expect EUR/USD to retest the resistance level mentioned above before any selling pressure occurs. My target is 1.0740, followed by 1.0720.
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