So far, everything speaks in favor of a further fall in . In case of a confirmed breakdown of the 1.1880 support level, the EUR/USD decline may continue towards the 1.1780 support level (38.2% Fibonacci level of the upward correction in the wave of the pair's decline from 1.3870, which began in May 2014, and the 2018 highs) and the local support level 1.1710 (March 2021 lows).

The break of the long-term key support level 1.1610 will finally break the bullish trend of EUR/USD.

The first signal for the implementation of the alternative scenario may be a breakdown of the short-term resistance level of 1.1925, and distant growth targets are located at resistance levels 1.2340, 1.2450, 1.2500, 1.2580 (Fibonacci level 61.8%), 1.2600.

Trading Recommendations

Sell ​​Stop 1.1890. Stop-Loss 1.1930. Take-Profit 1.1880, 1.1780, 1.1710, 1.1610
Buy Stop 1.1930. Stop-Loss 1.1890. Take-Profit 1.1940, 1.1952, 1.2000, 1.2046, 1.2065, 1.2180, 1.2260, 1.2340, 1.2450, 1.2580, 1.2600

EU-Daily
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