Technical Analysis of the EUR/USD Pair
The EUR/USD pair is moving in a downtrend on the 4-hour and 1-hour timeframes, and prices successfully formed an important selling zone around the 1.1560 levels, after breaking the 1.1545 level which was the previous main low. Currently, prices are trading around 1.1517, and the downtrend is expected to continue today.

Key Economic News
The U.S. dollar is awaited today for the ISM Manufacturing PMI data, which is expected to influence the dollar’s movement and, consequently, the EUR/USD pair.

Liquidity Levels
Prices are expected to decline and target 1.1467, then 1.1392.
Scenario invalidation: The bearish scenario is negated if a 4-hour candle closes above the 1.1575 level.