The pair EURUSD fell sharply below the 1.00000 level this morning. During the Asian session, the euro managed to maintain itself in the 1.00000-1.00500 zone. Then we see a strong bearish impulse that takes the pair below 1.00000 and continues to the 0.99500 level. The euro is also making a break below there, and if the strengthening of the dollar continues, the fall of the euro is inevitable. For a bearish option, we need a negative consolidation and a drop to the 0.99000 level. Then we need to hold on there and, with a new bearish impulse, continue with further withdrawal. Potential lower targets are 0.98500 and 0.98000 levels. For a bullish option, we need a new positive consolidation and a return to the 1.00000 level. Then we need to stay there in order to form a new bottom. From there, with a new bullish impulse, we could continue the recovery. Potential higher targets are 1.00500 and 1.01000 levels.
Disclaimer
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.
Disclaimer
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.