Overview:
The EUR/USD pair continues moving downwards from the level of 1.1000 (pivot point).
Today, the first resistance level is currently seen at 1.1000, the price is moving in a bearish channel now.
According to the previous events, we expect the EUR/USD pair to trade between 1.1000 and 1.0939.
So, the support stands at 1.0939, while daily resistance is found at 1.1037.
Therefore, the market is likely to show signs of a bearish trend around the spot of 1.1000.
In other words, sell orders are recommended below the spot of 1.1000 with the first target at the level of 1.09000 and continue towards 1.0869 in order to test the weekly support 2 on the H1 chart.
On the other hand, if the EUR/USD pair succeeds to break through the weekly pivot point level of 1.1000 today, the market will move upwards continuing the development of the bullish trend to the level 1.1095 (double top).
