EURUSD: Prolonged bearish momentum.
The September Fed meeting minutes showed a dovish stance on monetary policy, pushing the USD higher and forcing EUR/USD lower.
In response to the above information, the price slid to the support level of 1.0950 and the EMA 34 - 89 is maintaining a steady downtrend, indicating that the sellers are still dominant. That is why I set my target at the round level of 1.0800, which matches the lower boundary as indicated on the chart.
What do you think about this view?
In response to the above information, the price slid to the support level of 1.0950 and the EMA 34 - 89 is maintaining a steady downtrend, indicating that the sellers are still dominant. That is why I set my target at the round level of 1.0800, which matches the lower boundary as indicated on the chart.
What do you think about this view?
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