FX.co ★ EUR/USD

Sellers in the EURUSD currency pair did not move to update the lows last week, but the scenario of continued decline remains relevant. Of course, news can change the direction at any moment, but for now the bears retain the initiative. The main task for sellers is a reliable close below 1,1170, after successfully executing this plan it will be possible to move down to 1,1110. Further it is better to look at the facts and assess the possibility of moving to even more distant southern targets. Pullbacks upward cannot be ruled out. From current levels buyers can quite possibly push up to 1,1230. A successful hold above 1,1230 will allow bulls to continue EURUSD's rise to 1,1290, and from those levels the decline may resume. If the 1,1290 level is also breached, then it will be possible to rise to 1,1320 and 1,1355. A subsequent hold above 1,1355 could lead to a rise in the EURUSD price to more distant targets, but that can be considered only after the fact.