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EURUSD, Technical Analysis

8/22/2022 11:15 AM

The EUR/USD pair is trading in a downtrend, currently at 1.0030.

On the daily chart of the asset, the price is falling within the global corridor with dynamic boundaries 1.0240–0.9700, getting ready to test the key historical support around 1.0000.

The four-hour chart shows that the potential for a downward movement is quite high, and the nearest solid support for the trading instrument can only be the initial trend of 61.8% of the Fibonacci extension around 0.9814. If the quotes fix below it, the downward dynamics may continue up to the basic trend of 100.0% on the Fibonacci extension around 0.9494.

Technical indicators keep a sell signal: indicator Alligator's EMA oscillation range expands downwards, and the AO oscillator histogram forms downward bars in the sell zone.

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