Pivot point: 1.1800
The preferred scenario: Entering short positions in the event of price stability, below the 1.1800 levels, targeting 1.1740 and then the 1.1700 as a second price target.
Alternative scenario: entering long positions in case the price breaks the 1.1800 resistance, targeting the 1.1920 levels.
Comment: The euro-dollar pair is still trading in a general trend in the short term, through the descending price channel, and after the price failed to breach the 1.1850 resistance, which is represented by The upper line of the descending price channel, it is expected that we will witness a return to the decline again within the framework of completing the general bearish trend and targeting the previously mentioned levels, especially in light of the price’s decline below the moving averages (10-10), which supports the negative outlook for the pair’s trading in the short term << /p>
