Searching for further USD-related trading setups?
It appears like the EUR/USD just moved lower from a significant resistance area!
For the second time this month, EUR/USD was just rejected from the psychological handle of 1.0900, in case you missed it.
Right now, the pair is trading nearer to the 1.0845 Pivot Point line, which is situated just below the resistance of a declining channel that has existed since the beginning of 2024.
Let's see if the calendar events for this week can attract more sellers of EUR/USD.
Following its rejection from a technical barrier area, EUR/USD may develop bearish momentum if this week's reports cause the USD to extend its gains against its major peers.
The EUR/USD pair can test the S2 (1.0765) zone close to the 200 SMA, or it might return to its prior support area, S1 (1.0806).
However, if this week's news reports support pro-risk, anti-USD attitudes, EUR/USD might go back to its earlier highs of 1.0900 and try to break higher.
How do you feel? Will the one and a half-year-old downward trend in EUR/USD continue? Or could the following few days mark the beginning of a bullish reversal?
