• EUR/USD bears are in the market, tracking last month’s highs.
  • A break of support leaves a vulnerable ratio of 61.8% on the daily chart.

The euro is under pressure as economic data continues to show the resilience of the US economy in contrast to those on the brink of recession, such as eurozone. The opening balance sheet for the week is set ahead of Wednesday’s Federal Reserve and the following analysis leans bearish.

EUR/USD daily charts

EUR/USD it is climbing the trendline support and is now returning to it, where last month’s highs are in a strong bearish correction. At least 50% of the mean reversion is on cards that guard the ratio of 61.8% and the conflict area.

EUR/USD Chart H4

EUR/USD is traded below Friday’s closing price. The price is supported in the area of ​​higher volume, but if it should give, then the previous month’s highs will be seen near the 61.8% Fibonacci level near 1.1000.

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