Overview:
The EUR/USD pair is trading below its pivot point (1.1883). It is likely to trade in a lower range as long as it remains below the pivot point.
The EUR/USD pair faces resistance at 1.1883, while strong resistance is seen at 1.1913. Support is found at 1.1815 and 1.1754 levels.
Today, the EUR/USD pair continues to move downwards from 1.1883 level. The pair could fall from 1.1883 level to the first support around 1.1815.
In consequence, if the EUR/USD pair will break support at 1.1815, this level will turn into resistance today. In the H1 time frame, the 0.7288 level is expected to act as minor resistance. Hence, we expect the EUR/USD pair to continue moving in the bearish trend from 1.1815 level towards the target at 1.1754.
In the long term, if the pair succeeds in passing through 1.1754level , the market will indicate the bearish opportunity below 1.1754 level in order to reach the second target at 1.1678.
However, the 1.1678 mark remains a significant support zone. Thus, the trend will probably rebound again from 1.1678 level as long as this level is not breached.
in overall, we still prefer the bullish scenario below the area of 1.1913.
