The long-term downtrend remains strong, with a new year low sited with the latest developments from the FED and the trade war. USD has gained speed and for now bearish conditions remains strong for the pair.
The H&S formation is still in play, with a target around 1.09766.
The pinbar on 1st indicated that selling stops for now, and I am expecting a short-term correction to the marked in red zone before the down movement continues to complete the figure's target.
Shorts are preferable inline with the downtrend on every correction.
In regards to fundamentals, the lack of action from the ECB is also pressuring the euro down.
The H&S formation is still in play, with a target around 1.09766.
The pinbar on 1st indicated that selling stops for now, and I am expecting a short-term correction to the marked in red zone before the down movement continues to complete the figure's target.
Shorts are preferable inline with the downtrend on every correction.
In regards to fundamentals, the lack of action from the ECB is also pressuring the euro down.
