The EUR/USD chart currently exhibits a bearish overall momentum. There’s a potential scenario where the price could continue its bearish movement towards the 1st support. The 1st support level at 1.0724 is identified as an overlap support, indicating its historical significance as a level where buying interest may emerge.
The EUR/USD chart currently exhibits a bearish momentum, with one of the contributing factors being that the price is below the bearish Ichimoku cloud. Given this scenario, the price could potentially continue its bearish movement towards the 1st support level at 1.0663. This level is identified as an overlap support and coincides with the 161.80% Fibonacci Extension, enhancing its significance as a potential area of buying interest.
The EUR/USD trading pair is currently in a bearish descending channel, which is contributing to the overall bearish momentum on the chart. Your analysis suggests that there is potential for a bearish continuation in the price towards the 1st support level.
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