The EUR/USD pair has been trending downwards since Thursday, the 17th of March 2016, with the bears leading the price from as high as 1.1342 to as low as 1.1144.
With the opening of the trading session, the pair drop from 1.1179 to 1.1153, with the price currently trading at 1.1162.
In the event that the sellers keep trading lower and manage to push the price below 1.1144, profit targets could be set at 1.1125 and 1.1057 in extension.
On the flip side, in the scenario where the buyers force the currency price higher, breaking above 1.1190, the price could advance up to 1.1219 and 1.1242 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.