EURUSD: Diverging Monetary Policies and Continued Euro Weaknes

In the previous analysis, we discussed the continued decline of the EURUSD pair. On the weekly time frame, the 1.03 support level is crucial, and breaking it could pave the way toward parity.

On the daily time frame, as long as the descending trendline remains intact, the outlook favors further declines. The identified supply zone offers a potential opportunity for renewed selling. Breaking the 1.03 support won't be easy, and a retest of this level is likely before the bearish trend continues, presenting a second opportunity for a short position.