In the H1 chart EURUSD  follows a downward trend, evidenced by a sequence of increasing lower lows and highs . Another tool to determine the trend are moving averages EMA on H1 (75- and 100-periodic) which are directed towards the bottom. Most of the time the price is below said average. You can see that demand is not able to close any of yesterday’s hourly candles above the level of 1.1000. Then there was a clear response from the supply side, which led to lower low (which has a larger volume).

We can see also downward reaction while testing the upper edge of the zone of 1,0965-1,0975, which led to new lows. Increased supply and breaking the low is likely to open the way for further declines. Breaking up above level 1.1000 (in combination with a high volume), can lead to greater correction.

eurusdpro-eh1201016

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