EURUSD continues its technical downtrendHello dear traders! Before that we saw the trend change then the market entered a correction phase and consolidated below the uptrend channel support and reached 1.0808 (as of now).
In summary, the EU is forming a bearish wave, in which it is gradually falling from 1.0861 to strong support as the market is caught in a wave of selling. Prices are testing strong support amid investors' rush to the safe-haven US Dollar and weighing down the Euro despite better-than-expected HCOB PMI figures earlier in the day.
With the current trend, I personally expect EURUSD to break the current support zone and continue the technical downtrend because the overall outlook is negative.