EURUSD price has broken below a rising channel (highlighted in gold) and is trading underneath the 200 EMA (in blue), suggesting short-term bearish momentum. The chart highlights a potential drop of around 50+ pips, with an expected downside target near 1.0792. This level is derived from Fibonacci extensions, indicating further weakness may occur. Overall, the analysis points to a bearish intraday approach while below key resistance (around the 200 EMA and the prior swing highs).
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.