Euro Continues to Down Side

There was little change in the EUR’s movements against the US dollar, maintaining the negative activity close to the 1.1200 target.

Technically, the price continuation and stability below the simple moving averages support the bearish curve in prices and gain solid bearish momentum in the short time frames.

Therefore, we are waiting for 1.1200, buying area. Consequently, it should be noted that the decline below the mentioned level increases the strength of the current bearish trend to open the door for 1.1145 and extends later towards 1.1100.

Activating the suggested scenario depends on the stability of the intraday trading below the resistance level of 1.1280, and in general, below the previously broken support that turned into the resistance level of 1.1320.

S1: 1.1200	R1: 1.1280
S2: 1.1175	R2: 1.1320
S3: 1.1145	R3: 1.1370