EUR/USD was trading near 1.0000 as of writing, also trying to gain a foothold in the zone above important short-term support levels 0.9883 (200 EMA on the 4-hour chart), 0.9905 (200 EMA on the 1-hour chart), 0.9920 (50 EMA on the daily chart).
In case of breaking through the local resistance level 1.0090, the upward correction will send EUR/USD towards the key resistance levels 1.0210 (144 EMA on the daily chart), 1.0390 (200 EMA on the daily chart). Below these levels, EUR/USD remains in the long-term bear market zone, which makes short positions preferable.
Therefore, when a sell signal appears, they should be resumed. The signal could be a breakdown of the above support levels 0.9883, 0.9905, 0.9920, and the nearest target is the local support level 0.9745.
In general, EUR/USD bearish momentum remains, and "from a fundamental point of view, we should expect a resumption of decline, at least, and as a maximum, a further fall of the pair towards 20-year lows, when it was trading near 0.8700, 0.8600."
Support levels: 0.9920, 0.9905, 0.9883, 0.9800, 0.9745, 0.9700, 0.9600, 0.9535, 0.9500, 0.9400, 0.9300, 0.9200, 0.9000
Resistance levels: 1.0090, 1.0100, 1.0210, 1.0390, 1.0500
Trading Tips
Sell Stop 0.9965. Stop-Loss 1.0045. Take-Profit 0.9920, 0.9905, 0.9883, 0.9800, 0.9745, 0.9700, 0.9600, 0.9535, 0.9500, 0.9400, 0.9300, 0.9200, 0.9000
Buy Stop 1.0045. Stop-Loss 0.9965. Take-Profit 1.0090, 1.0100, 1.0210, 1.0390, 1.0500