EURUSD: The trend of decreases is the same!

6 days agoThe EUR/USD pair continues to extend the weekly discount chain, reaching 1,1001 on Wednesday, before recovery slightly but it still has not been able to regain a rising momentum. In the upcoming Asian session, this pair of money is expected to fluctuate around 1,1020, with the general market psychology still in favor of the downtrend, due to the lack of motivation from CPI data yesterday.

From a technical perspective, the sale signal is still dominating when the price channel is sustained firmly. Notably, both EMA 34 and 89 lines offer negative signals, showing the reversal and prices are moving under their operating areas. With this situation, the next goal can be directed to the important and lower support area of ​​the price channel around 1,095. This is a good opportunity to consider selling when the downtrend is still strong.