EUR/USD remains strong in the bearish bias

EUR/USD remains strong in the bearish bias

EUR/USD found resistance around the Fibonacci zone of 38.2% at 1.1672 and now looks forward to reach new lows across the board. Next target is placed at the -23.6% at 1.1510, at which bulls could gather some momentum in order to correct the decline. To the upside, nearest resistance lies at the 200 SMA and if it manages to break above it, next target should be November 3rd highs.

RSI indicator remains in the neutral territory.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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