The EUR/USD has confirmed a double top, reinforced by a bearish MACD crossover and RSI divergence. The pattern remains valid unless the price moves above 1.09544. The initial downside target is around 1.0690, aligning with the upper part of the 34 EMA wave and sitting just above the 200 EMA. A decline to this level would still preserve the broader bullish trend. However, if this support zone fails, a deeper move toward 1.0535 is likely, signaling a shift in polarity, where previous resistance turns into new support.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.