EUR/USD May Continue to Drop Sharply
So far, the euro has become the weakest currency among the G10, and the reason is quite clear. The expectation that Donald Trump will extend his trade war from China during his first term to other partners in his second term has created a sense of concern. In the short term, the EUR/USD pair may continue to decline even further.
On the 1-hour technical chart, the EMA 34 has crossed below the EMA 89, signaling that the price of this pair is in a downtrend. While there is support at the 1.072 level, this may not be enough to stop the decline, and the price is likely to continue falling in the near future. The next support level could be around the 1.065 area, where the pair may test before continuing its downtrend. However, if this level fails to hold, EUR/USD could slide further, potentially reaching 1.050 in the longer term.
On the 1-hour technical chart, the EMA 34 has crossed below the EMA 89, signaling that the price of this pair is in a downtrend. While there is support at the 1.072 level, this may not be enough to stop the decline, and the price is likely to continue falling in the near future. The next support level could be around the 1.065 area, where the pair may test before continuing its downtrend. However, if this level fails to hold, EUR/USD could slide further, potentially reaching 1.050 in the longer term.
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