Technical Analysis of EUR/USD

The EUR/USD pair is moving in a bearish trend on the four-hour timeframe. Prices successfully formed an IFVG zone around the 1.1747 level. These levels represent a downward reversal zone. Currently, the pair is trading around 1.1762, and the bearish direction is expected to continue during the day.

Key Economic News

The US Dollar is awaiting today a speech by Donald Trump, while Kevin Warsh, the nominee for Chair of the Federal Reserve, will appear before a US Senate committee for a confirmation hearing. These events are expected to affect the movement of EUR/USD.

Liquidity Levels:

Prices are expected to decline toward 1.1730, followed by 1.1699, then 1.1665.

The bearish scenario will be invalidated if prices revisit 1.1800.