On Friday, the EUR/USD pair traded in different directions in the range of 1.0695-1.0740 and closed the day without significant changes. Today the pair rose slightly, rising to 1.0725. On the hourly chart, EUR/USD is trading below the moving average line MA (200) H1 (1.0785). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
Probably, the main scenario is a resumption of decline to 1.0695 (Sep 8 low).
The alternative scenario is consolidation above MA 200 H1, followed by growth to 1.0945 (Aug 30 high).
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