According to the 4-hour chart, the Fiber is still trading under selling pressure. This down movement is correlated with the coronavirus pandemic in the eurozone such the quarantine in Italy and lockouts of state borders in many EU countries. The risk aversion sentiment is to responsible for the overall downtrend of the pair which sank as deep as the level near the Liquidity Pool at 1.1055. It is going to hold there as long EUR/USD does not break out and closes above1.1237.
The overall bias of EUR/USD is bearish.
(Disclaimer)
