The Euro Touching The Bearish Targets

The single European currency succeeded in touching the target mentioned in the previous analysis, located at the price of 1.1700, to record the lowest price during the morning trading of the current session at 1.1700.

Technically speaking and with a closer look at the chart, with regular work inside the bearish price channel shown on the chart, accompanied by the continuous negative pressure on the pair from the 50-day simple moving average.

This encourages us to maintain our negative outlook, knowing that trading stability below 1.1700 facilitates the task required to visit 1.1675 / 1.1650 initial targets that may extend later towards 1.1600.

Activating the bearish scenario depends on intraday trading remaining below 1.1750 / 1.1760.

S1: 1.1675	R1: 1.1750
S2: 1.1650	R2: 1.1800
S3: 1.1605	R3: 1.1830