EURUSD retains operating. The pattern decrease continues.

The EURUSD continues to speed up decrease with minimal corrections, conserving the bearish momentum firmly intact. The pair has now damaged under a key swing space between 1.1614 and 1.16309, which now acts as shut danger for sellers. So long as the worth stays under this zone, the bias stays to the draw back.

Subsequent targets:

• 1.1555–1.1561: minor help zone

• 1.15378: the 38.2% retracement of the Might–July rally and a key goal on an additional breakdown

On the 5-minute chart, the falling 100-bar transferring common — presently round 1.16475 and declining — additionally defines a short-term danger stage. Even when the worth strikes above the 1.16309, getting and staying under the 100 bar MA on the 5-minute chart is extra bearish. Notice that the MA is transferring rapidly to the draw back, so will probably be approaching the 1.1630 stage quickly.

This text was written by Emma Wang at investinglive.com.