EUR/USD: general analysis

Current trend

Since the middle of October, the EUR/USD pair lost more than 900 points. Yesterday, after the ECB decision on interest rates the pair grew by more than 400 points but later started falling. Considering the general trend for the last one and a half month, it can be assumed that the pair will continue falling.

Support and resistance

Support levels: 1.0770 (23.6% Fibonacci correction).
Resistance levels: 1.0905 (38.2% Fibonacci correction).

Trading tips

Open short positions after the breakdown of the level of 1.0850 with the target at 1.0770 and stop-loss at 1.0930.