Forex Analysis & Reviews: EUR/USD pair has not implemented growth yet

A lack of major support from the ECB is indicated by today's Asian trading session. If the situation does not change, then the probability of updating the monthly low will increase to 80%.

When making a trading plan, it is worth noting that yesterday's closing level may become a determining resistance if the European session opens below the level of 1.1596. Trading in a downward direction is regaining its status as the priority. So, one must get ready for another bearish momentum. The first downward target is to update the monthly low. The main target is the Weekly Control Zone of 1.1540-1.1523.

This pattern will be the main one if the activity during the European session allows the price to stay below the level of 1.1596. The task is to join stronger players who will buy the euro at more favorable prices at a monthly low and below.

Analysis are provided by InstaForex