The EUR/USD pair has been trending downwards since the 20th of January 2016, with the sellers leading the price from as high as 1.0976 to as low as 1.077.
During the course of the day on Friday, the major fell significantly, with the downward pressures being registered from 1.0874 down to 1.0789. Today, the pair is moving upwards, reaching the 1.0819 level at the time of writing. In the event that the buyers gain enough momentum to push the pair above 1.0861, the price could head towards the 1.09 handle, reaching 1.0883 and 1.0904 in extension.
Conversely, in the scenario where the sellers resume their previous activity and force the pair below 1.0789, the price could go down to 1.077 and 1.0750 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view