FX.co ★ EUR/USD

Hello traders, The currency pair EUR/USD, while trading within a descending channel, has broken above the upper boundary of the channel. However, today we are seeing a return of EUR/USD back within the channel boundaries, and the continuation of the pair's movement in a downward direction is creating conditions for further decline. At this stage, EUR/USD is trading below the daily pivot line (1.15880), has set a new local minimum from the previous trading day, and in the near future, a decline towards the price level of 1.14108 (+/-) is possible, followed by a potential move towards the lower boundary of the channel at 1.11385.