EUR/USD likely to end this quarter around 1.09 levels – Nomura
EUR/USD: 3 Technical Reasons 1.1050 Support Could Give Way
The chart confirms the concern but the price action is not yet complete to validate the change in direction. Price has broken the lower but is still above the 1.1050 support line. In fact today’s price action leaves a lower shadow showing some buying pressure. I believe we will see lower EUR/USD eventually but preceded by consolidation first. Price as been moving aggressively for some time and a gentle back test of that lower parallel is in order before the price fall the market expects.
See the chart.