On Monday, Euro continued its downward trend and fell to lowest level since July 2020, as the market considered that the epidemic might intensify new restrictions on Europe. The Fed is preparing to normalize monetary policy, while European Central Bank has more reasons to maintain loose monetary policy.
From a technical perspective, Euro’s daily candle is down unilaterally. The bears dominate the market and there is no bullish signal. On H4 graph, BOLL is opening downward, the moving average diverges, the MACD indicator volume showed bearish sign. Overall, prioritise SELL. The chart below is showing the key point and the estimated trend, the deciding point is near 1.1250.
Resistance：1.1250-1.1280-1.1300
Support：1.1220-1.1200-1.1150
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