The current price: 1.0870
Key point: 1.1115
Our preferred direction: short positions below 1.1115 levels, targeting 1.0920 as a first target, then 1.0800 as a second target.
Alternative scenario: stop loss and change direction by breaking 1.1115, targeting 1.1200.
Technical comment
The euro-dollar pair fell at the end of last week's trading, with the breaching of the bullish channel down, with the formation of a harmonic shark pattern at 88% Fibonacci levels, so that some bullish correction is expected for the pair, and then it will complete the decline again to 1.0800 levels.
