Yesterday, the EUR/USD traded lower and closed the day in the red zone around the price of 1.0730. Today, on the contrary, the pair has grown slightly, rising to the level of 1.0745. On the hourly chart, EUR/USD is testing the strength of resistance - the moving average line MA (200) H1 (1.0735). On the four-hour chart, the pair still remains below the MA 200 H4 line. 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 1.0710 (Sep 13 low).
The alternative scenario is consolidation above MA 200 H1, followed by growth to 1.0880 (Sep 1 high).
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