Technically speaking, we can expect 1.0840 to act as a first support due to prior pivot point being met. If this level is wiped, second support level is seen at 1.08 as a psychological support.
Major resistance that bulls have to take out is the level of 1.1050 which is the 200SMA and the lower trend line on the long-term ascending channel.
Chart: EUR/USD D1
The move to the downside will continue, I think.
ReplyDeleteAll of your arguments catching my eye.
ReplyDeleteI agree with your analysis.
ReplyDeleteThank you for the analysis I'll keep an eye on the currency.
ReplyDeleteFurther decline are expected.
ReplyDeleteGreat analysis.
ReplyDeleteLet’s see how it keeps going.
ReplyDelete