On Monday, Euro fell under pressure to around 1.1686, just one step away from a one-month low. The U.S. dollar strengthened as several officials from the Federal Reserve will deliver speeches this week. Their speeches may strengthen market expectations that the Federal Reserve will begin to reduce the scale of asset purchases before the end of the year. Due to the weakening of key fundamentals in the Euro Zone, the rebound momentum continued to weaken, and buying around of Euro decreased.
Looking at the Euro technically, after the opening of the market yesterday, EURUSD rose and fell. The daily candle closed bearish with a lower shadow and bearish sentiment dominates the market. EURUSD continues to test new lows. H4 graph show that candle fluctuates at the bottom position. The middle BOLL band opened downwards, MACD continued to operate below the zero axis and the indicators weakened across the board. Overall, prioritise Sell within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 1.1680.
Resistance：1.1710-1.1750-1.1780
Support：1.1680-1.1650-1.1600
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