Current price: 1.0970
Key point: 1.1035
Our preferred direction: short positions below 1.1035 levels, targeting 1.0825 as a first target, then 1.0750 as a second target.
Alternative scenario: stop the loss and change the direction by breaking 1.1035, targeting 1.1100.
Technical comment
The euro-dollar pair fell from the upper boundary of the ascending price channel and from the resistance levels 1.1260-1.1190, breaching the support levels 1.1070-1.1030, and settling below it and below the descending trend line from last month’s summit, so that the decline is expected to continue to 1.0825 levels in the event of a breach of the triangle shown downwards.
