Technical analysis of EUR/USD 11/10/2021
The EUR / USD currency pair on the (1W) chart is trading in a channel, developing a downward correction. At the moment, quotes are in the area of 1.1500 at the intersection (50% Fib) and (MA200) coinciding with the lower line of the descending channel. If the pair manages to consolidate below the level of 1.1500, this will be a signal to continue the downward correction with a target below 1.1300 (61.8% Fib). The nearest resistance is at the level 1.1700.
Created by Joshua Hayn