After corrective movement on Friday from the level of 1.2075, our pair has been trying to resume the downward movement since the beginning of today's trading.
The dollar index continues to strengthen and is at the maximum levels of the current year.
At the moment, we believe that the price will continue the downward movement and in case of overcoming and consolidation below the level of 1.2075, the next resistance level will be the level of 1.2000.
Technical indicators confirm the occupation of short positions. The activity on the pair is expected during the American session, as tomorrow a part of the European countries celebrate the "Labor Day".
The dollar index continues to strengthen and is at the maximum levels of the current year.
At the moment, we believe that the price will continue the downward movement and in case of overcoming and consolidation below the level of 1.2075, the next resistance level will be the level of 1.2000.
Technical indicators confirm the occupation of short positions. The activity on the pair is expected during the American session, as tomorrow a part of the European countries celebrate the "Labor Day".