The Euro Touches Goal And Negative Pressure Remains.

The single European currency declined significantly during the previous trading session, within the negative outlook, as we expected, touching the official target station at 1.1700.

Technically, the pair succeeded in confirming the breach of the 1.1760 support level, which is now turned into a resistance level that supports the negativity and the continuation of the negative pressure coming from the 50-day moving average.

Therefore, we will maintain our negative outlook, targeting 1.1650 first target and then 1.1600 next official stations. Only from above, the return of stability above 1.1780 postpones the chances of a decline but does not cancel them, and we may witness a slight bullish bias that targets a retest of 1.1830 initially.

S1: 1.1685	R1: 1.1770
S2: 1.1650	R2: 1.1820\
S3: 1.1600	R3: 1.1860