EUR / USD remains in a long-term bearish trend, which began in May 2014 from the level of 1.3870. Currently, EUR / USD is trading in downward channels on the daily and weekly charts, below key resistance levels of 1.1210 (ЕМА144 on the daily chart), 1.1260 (ЕМА200 on the daily chart), 1.1285 (Fibonacci level 23.6% of the correction to the fall from the level 1.3900 that began in May 2014).
The nearest strong resistance level below which EUR / USD sales look safe is located near 1.1115 and passes through the upper border of the downward channel and ЕМА50 on the daily chart.
Short positions are recommended below this resistance level.
A breakdown of the short-term support level of 1.1045 (ЕМА200 on the 1-hour chart) will confirm this scenario.
In an alternative scenario and in case of breakdown of the resistance level, 1.1115 EUR / USD will go towards the resistance level of 1.1210. The maximum of correctional growth is possible in the current situation up to the resistance level of 1.1260. Growth above the resistance level of 1.1285 is unlikely.
The long-term negative dynamics of EUR / USD prevails. A breakdown of the support level of 1.1000 will provoke a deeper decline and will direct EUR / USD towards 1.0900, 1.0850.
Support Levels: 1.1045, 1.1000, 1.0960, 1.0940, 1.0900, 1.0850
Resistance Levels: 1.1087, 1.1115, 1.1210, 1.1260, 1.1285
Sell Stop 1.1040. Stop-Loss 1.1090. Take-Profit 1.1000, 1.0960, 1.0940, 1.0900, 1.0850
Buy Stop 1.1090. Stop-Loss 1.1040. Take-Profit 1.1115, 1.1210, 1.1260
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