EURUSD consolidating but remains in a broader downtrend

Oct 6

The EUR/USD pair has been consolidating but remains in a broader downtrend. The recent price action suggests that a deeper correction pattern could unfold. The pair corrected as expected but did not get close to the 1.1770 resistance level. Interestingly, the recent U.S. government shutdown news had little impact on the U.S. dollar, indicating continued underlying strength.

From a technical perspective, EUR/USD declined further following the recent news from France, which may have shifted investor sentiment. The market appears to be losing focus on U.S. political events and Trump, and instead, attention is turning back to the Eurozone.

If this shift continues, EUR/USD could extend its decline further than initially anticipated. The next key support level is around 1.1555, which traders should watch closely for potential buying interest or a further breakdown.

You may find more details in the chart.
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Oct 7

Trade active

Oct 8

Note

Nice Trade Point