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EUR/USD Analysis: Downward Momentum Holds as Dollar (USD) Stren

Euro / U.S. Dollar (OANDA:EURUSD)  
Daisy_Anna  
OANDA:EURUSD   Euro / U.S. Dollar
Chart Patterns Trend Analysis Technical Indicators EURUSD sma resistence support buy SELL Forex
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chartpattern trendanalysis indicator eurusd sma resistence support buy sell forex
Overall, EUR/USD is still maintaining a downward trend. EUR/USD has dropped to near the 1.0620 level at the beginning of the Asian trading session on Wednesday. This indicates the strength of the US Dollar compared to the Euro in recent times.

However, when looking at the technical charts, we can see some positive signals suggesting that the price may be preparing for a corrective phase. It is predicted that the price will test the SMA 20 area before it could bounce back and continue the downward trend.
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