EUR/USD began the week’s trading with downside gap, licks its wounds around daily lows off late.

Horizontal area from early December limits recovery moves, bearish MACD favors sellers.

Three-month-old descending trend line challenges sellers targeting the 1.1000 level.

EUR/USD struggles to extend the rebound from intraday low around 1.1160 as traders brace for Monday’s European session.The major currency pair portrayed a downside gap to begin the week’s trading as the risk-aversion wave favored the US dollar .Also keeping the EUR/USD bears hopeful is the pair’s sustained trading below a horizontal resistance zone from early December 2021, around 1.1220-25, as well as the bearish MACD signals.That said, the pair’s latest weakness drives it towards a downward sloping trend line from late November 2021, around 1.1100.However, a clear downside break of the stated support line will make the pair vulnerable to test the 1.1000 threshold, surrounding the 61.8% […]

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EUR/USD Price Analysis: Bears occupy driver’s seat on the way to 1.1100

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