Below the resistance level, 1.1915 continues to bear downward dynamics, and therefore, near the resistance level 1.1876, a rebound is possible with a further decline with targets at local minimums near the level 1.1750. A break of the key support level 1.1620 could finally bring EUR/USD back into the bear market.

In the alternative scenario, and after the breakdown of the resistance level 1.1876, further correctional growth towards the resistance levels 1.1915, 1.1950 should be expected. After consolidating in the zone above the resistance level 1.1950, EUR/USD may go to distant targets at resistance levels 1.2180 (Fibonacci level 50% upward correction in the wave of the pair's decline from the level 1.3870, which began in May 2014, and the highs of 2018), 1.2260, 1.2340, 1.2450, 1.2500, 1.2580 (Fibonacci level 61.8%), 1.2600.

EURUSD

Trading recommendations

Sell Stop 1.1830. Stop-Loss 1.1885. Take-Profit 1.1809, 1.1780, 1.1752, 1.1710, 1.1620.

Buy Stop 1.1885. Stop-Loss 1.1830. Take-Profit 1.1915, 1.1950, 1.2065, 1.2180, 1.2260, 1.2340, 1.2450, 1.2580, 1.2600.

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