FX.co ★ EUR/USD

Hello traders and may your trading be profitable! Regarding the EUR/USD pair today, my plans remain unchanged with a priority on selling based on technical analysis. However, according to my subjective beliefs related to the fundamentals, the price should experience a decent increase, potentially reaching as high as 1.1570. Nevertheless, this might just be a move to shake out traders before the price actually rises. Let's set aside personal beliefs and focus on the technical analysis. The EUR/USD pair is trading below a resistance zone defined by the levels around 1.1761, which was tested yesterday but failed to break above. The only event that would cancel the price drop is the daily candle closing above the 1.1800 level. Therefore, as long as the EUR/USD pair remains below 1.1800 and especially below 1.1761, in my opinion, selling should be the priority, with the target set at the support level of 1.1558.