The EURUSD pair fell sharply against the background of the US Federal Reserve decision to lower the rate by 0.25%
This is quite paradoxical from the point of view of the classical "foundation" because the reduction of the Central Bank's rate should lead to a weakening of the currency in which the rate is reduced (in this case, the dollar should have weakened).
The only thing that can be said, perhaps, the market was waiting for a clear statement about the new rate cuts. However, the US economy is still in good shape, economic growth, and employment. And there is no reason for a cycle of rate cuts. The economy is the apparent weakening of the eurozone and the ECB is also said to lower rates.
At the same time, the EURUSD rate is already quite low, so that the fall is too big.
EURUSD: Technically, a break below 1.1100 and the close of the day below this level is a strong signal for a downward trend.
Sell euros from 1.1075 and above.
In the case of a bullish reversal, we buy from 1.1165.
