The EURUSD currency pair did not just show an interest to move down, it managed to update the local low on March 23, 2020. This value is 1.0636. This move indicated a subsequent prolongation of the downward trend from June 2021, the scale of which is about 1600 points.
Such an intense movement led to the fact that the RSI technical instrument in the H4 and D1 periods crossed the 30 line from top to bottom. This signal indicates the euro's oversold status.
The MA moving lines on the Alligator H4 and D1 indicators are directed downwards, which corresponds to the current trend.On the trading chart of the daily period, we see the quote's movement at the level of spring 2017. In fact, we have a signal of price movement towards parity – 1.0000.
Expectations and prospectsThe downtrend is considered the main movement in the market, the prospects for further decline are available in the market. In order to receive a signal for a subsequent increase in the volume of short positions, the quote must stay below the level of 1.0636 in the daily period. Until then, the risk of a price rebound remains, which will be justified by the euro's oversold status.
The complex indicator analysis has a buy signal in the short term due to the price rebound from the 1.0636 level area. Indicators in the intraday and medium-term periods give a sell signal due to the main trend.