EUR/USD Technical Analysis

• Descending trend line
• Bearish trend
• Support is broken
• Continuation is expected

1. Descending trend line
2. Order block
3. Lower high
4. Entry zone
5. Target

EUR/USD is still bearish. We can see that the support has been breached and a new move down is expected. On the H1 time frame which is the intraday frame, the expectation is that it could reach 1.1216. If that level is reached then it will open the door to the final target around 1.1165 zone. However, we could expect some retracements as a part of trend on higher time frames. At this point the intraday target is around 1.1216. Momentum below 1.1275 and 1.1301 needs to hold else the bulls might get the upper hand.

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Cheers and safe trading,

Nenad