EURUSD Technical Analysis:
The EURUSD pair is losing momentum in the 1.1800–1.1900 zone, which has led to a drop below 1.1650, raising concerns of a deeper pullback and a potential break of the previous low at 1.1400.
Additional pressure comes from the break of the ascending trendline, suggesting the possibility of a pullback and the formation of a new lower low.
Based on Fibonacci retracement levels:
the first target is at 38.2% (around 1.1200)
while the next, deeper correction level is at 61.8% (around 1.0800).
As long as the price remains below 1.1650, the pressure stays on the bearish side, while only a return above 1.1800 would reopen the path toward 1.20.
The EURUSD pair is losing momentum in the 1.1800–1.1900 zone, which has led to a drop below 1.1650, raising concerns of a deeper pullback and a potential break of the previous low at 1.1400.
Additional pressure comes from the break of the ascending trendline, suggesting the possibility of a pullback and the formation of a new lower low.
Based on Fibonacci retracement levels:
the first target is at 38.2% (around 1.1200)
while the next, deeper correction level is at 61.8% (around 1.0800).
As long as the price remains below 1.1650, the pressure stays on the bearish side, while only a return above 1.1800 would reopen the path toward 1.20.
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Free telegram channel t.me/alexmasterforex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.