Market Analysis: EUR/USD Continues Sharp Decline
In the European trading session last Friday, the EUR/USD currency pair continued to experience a sharp decline, with prices dropping below the 2.700 mark. This indicates that selling pressure is dominant in the market, and market sentiment is increasingly negative towards the Euro compared to the US Dollar.
Looking at the 1-hour chart, we can see that the price of this currency pair is below the simple moving averages (SMA) and continues to decline sharply downwards. This suggests that the strength of the downward trend is being maintained and there are no clear signs of a price correction.
Furthermore, the price has broken through the trendline, indicating that the downward trend is being reinforced and may continue strongly in the near future.
Looking at the 1-hour chart, we can see that the price of this currency pair is below the simple moving averages (SMA) and continues to decline sharply downwards. This suggests that the strength of the downward trend is being maintained and there are no clear signs of a price correction.
Furthermore, the price has broken through the trendline, indicating that the downward trend is being reinforced and may continue strongly in the near future.
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