Yesterday, the EUR/USD traded higher and closed the day in positive territory around the price of 1.0690. Today, on the contrary, the pair fell a little, dropping to the level of 1.0680. On the hourly chart, EUR/USD is still trading below the moving average line MA (200) H1 (1.0705). 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 continued decline to 1.0655 (Sep 18 low).
The alternative scenario involves consolidation above MA 200 H1, followed by growth to 1.0770 (Sep 12 high).
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