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Euro / U.S. Dollar
Short

EURUSD → The currency pair may lose up to 2.5% ↓

By RLinda
Updated
EURUSD is testing the 1.0884 resistance again after breaking the local channel. But it does not lead to success, as the bears are not letting the price up yet amid the complex fundamental environment.

snapshot

Technically, the currency pair is under a strong resistance zone. The limit level of 1.0884, formed by a big seller, continues to have a negative impact on the price. EURUSD may test 1.0802 in the near future. It is necessary to monitor the price reaction to this area. A quick retest or consolidation could be a prerequisite for a downside breakout and further fall to the lower boundary of the global range at 1.0606

Resistance levels: 1.0884, 1.0942
Support levels: 1.0802, 1.0736

I expect that the bears will continue to dominate the market on the background of the expensive dollar, which may lead to the fact that the currency pair may lose up to 2.0-2.5% of its value.

Regards R. Linda!
Comment
Bears did not let the price past 1.0884
Breakout of local upward support gives strong bearish momentum
The intermediate target will be reached soon
Trade closed: target reached
Target 1 reached!
Comment
Bounce. Most likely the price may test the local resistance before further decline
Comment
A consolidation below 1.0736 will be a trigger for the continuation of the fall
Trade active
The fall continues
Trade active
Support level breakout. The currency pair is ready to go lower
Trade active
snapshot
Trade active
The price may reach 1.0606 next week
Ascending ChannelChart PatternsconsolidationDXYEURUSDFibonacci RetracementFLATFundamental AnalysisSupport and ResistanceTrend AnalysisTrend Line BreakZigzag
RLinda
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