The quotations of the main currency pair have been moving in a downtrend for quite some time. Looking at the D1 interval, in recent days there was an attempt to make a correction, but the initiative was quickly taken by supply. The course bounced off the resistance zone at 1.0340, and it is possible that the downward movement will resume. Even if the upward correction extended, the zone at 1.0460, where, in addition to previous price reactions, the upper limit of the 1:1 system (red rectangle) falls, should be considered as the next important resistance. On the other hand, in the case of resumption of the downtrend, the all time target is the level at 1.0150, where the outer measures of 161.8% of the last correction falls.
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EURSUD D1 interval. Source: xStation
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Open account Try demo Download mobile app Download mobile appLooking at the lower time interval - H4, there is also a clear downward trend. The last upward correction stopped at the resistance level at 1.0335, where, in addition to previous price reactions, it fell that the average EMA100. According to classic AT assumptions, as long as the price is below, the downtrend sentiment applies.
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EURUSD H4 interval. Source: xStation
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