📌EUR/USD continued to slide to Friday's lows, falling to 1.0670 before recovering to 1.0700 during the US market session. Political pressure is weighing on the Euro after a major change in European voter sentiment.
📌On the US side, increasingly negative data is raising concerns about a possible recession, fueled by the results of the University of Michigan (UoM) consumer sentiment survey. worse than expected.
📌The currency pair is trading far away from the EMA 34 and EMA 89, showing that there has been instability in the pair over the past week. The downtrend is clearly established as the key support zone of 1,073 was broken and created a bearish Dow pattern. The pair's narrow trading range was formed at 1,070 and 1,076. When the market fluctuates strongly due to news of important resistance and support areas next week, investors can pay attention to the port areas of 1,061 and 1,080.
Trading signals
BUY EURUSD zone 1.06200-1.06000 SL 1.065800
SELL EURUSD zone 1.08000-1.08200 SL 1.08400
Support: 1.062 - 1.070
Resistance: 1.076 - 1.080