EUR/USD has been trading downwards today. The price tested the level of 1.0950. I see potential more downside on the EUR/USD due to rejection of the 20SMA on the daily time-frame.
Green lines – Downward sloping Bollinger channel
Purple falling line – Expected path
Yellow Rectangle- Support zone
My advice is to watch for selling opportunities on the EUR/USD since it is still in the downtrend channel and most recently,I found successful test of the 20SMA. Downward target is set at the price of 1.0890 ( last week low). In my opinion, it is bearish flag on daily time-frame, which may result new new move downward.
