Yesterday, the EUR/USD traded higher and closed the day in positive territory around the price of 1.0750. Today the pair was trading in a narrow range of 1.0740-70, remaining close to yesterday's closing price. On the hourly chart, EUR/USD is still trading below the moving average line MA (200) H1 (1.0770). 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 at the end of the correction.
Probably, the main scenario is a resumption of decline to 1.0715 (the low of the American session on Sep 11).
The alternative scenario is consolidation above MA 200 H1, followed by growth to 1.0945 (Aug 30 high).
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