In the H1 chart shows that the EUR/USD pair continues to move downwards from the level of 1.1705. Yesterday, the pair dropped from the level of 1.1705 to the bottom around 1.1645.
Today, the first resistance level is seen at 1.1705 followed by 1.1743 , while daily support 1 is found at 1.1594.
Also, the level of 1.1705 represents a daily pivot point for that it is acting as major resistance today.
Amid the previous events, the pair is still in a downtrend, because the EUR/USD pair is trading in a bearish trend from the new resistance line of 1.1705 towards the first support level at 1.1645 in order to test it again .
If the pair succeeds to pass through the level of 1.1645, the market will indicate a bearish opportunity below the level of 1.1645.
Therefore, there is a possibility that the EUR/USD pair will move downside and the structure of a fall does not look corrective.
So as to indicate the bearish opportunity below 1.1645, sell below 1.1645 with the second target at 1.1594 in order to test yesterday's bottom. Resistance 3 has already set at the level of 1.1545.
However, if a breakout happens at the resistance level of 1.1743, then this scenario may be invalidated.
