EUR/USD today: the pair keeps a downtrend

On Monday, the pair EUR/USD accelerated the decline on maintaining political risks in the euro area and the overall strengthening of the American. As a result, the correction against Friday did began, driving the pair into oversold zone. At the same time, the general downward sentiments of the pair remain.

The economic calendar is empty today, so the general market sentiment and investors’ return to risky assets will continue to drive the market.

The pair EUR/USD has almost completely developed the lateral triangle and is limited to the minima of December last year, from which one should expect a repulsion from the level of 1.1720-00. The main downward dynamics of the pair remains, but to continue the decline, correction is needed, which will be limited by the resistance levels: 1.1780 and 1.1800.

Fig. EUR/USD. Current price – 1.1740

Also, read “Symmetrical Triangle – Geometry of Successful Forex”.

Hanzenko Anton