EUR/USD : The first trade of the week suggest a continuation of the decline, and attention to the area of 1.1770

The pair EUR/USD started the week by losing a few pips yesterday evening, with lows at 1.1751 during the night, but has since regained ground and is currently in contact with the area of resistance to 1.1770-80.

The pair has indeed suffered a widespread increase in the Dollar in early trade, but the support of 1.1750 has generated a rebound. However, the pair is now blocked by another threshold important to 1.1770-80, which leaves open the possibility of a return of the decline.

Moreover, even if the last few weeks have been hesitant, the underlying trend of the EUR/USD pair remains rather bearish, and the study of the graphs of the long term shows that the reduction could find a second wind in case of a break below 1.1650/1.17.

In the short term, if the pair fails to move above 1.1770, down to 1.1750, and then 1.1730 will be preferred. In the test case above 1.1770 area of 1.18 appears as a clear objective.

Finally, as regards the economic calendar, this Monday will be the occasion of any important statistical data.

Currently, the EUR/USD pair hovers around 1.1770 on the Forex.

Chart EUR/USD H1

See also our charts EUR/USD in real time.

This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.

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